Transfers using Customer Bank CUBIX Instant Transfer

Note: CUBIX Instant Transfer is only available to institutional clients onboarded with Bullish (GI) Limited or Bullish US Operations LLC.

We recommend visiting our page to explore supported assets and products available in your country.

What is CUBIX Instant Transfer?

CUBIX Instant Transfer allows clients of Customers Bank to transfer USD between accounts on a 24/7, 365 days basis. CUBIX Instant Transfer is only available to clients who have a bank account open with Customers Bank.

Getting Started with CUBIX Instant Transfer

Clients who have previously used CBIT

If you are using the same bank account that was previously approved, you will not require any further documentation.

You should make the request to connect to Bullish in the Customers Bank portal via the Address Book section by searching for Bullish (GI) Limited FBO Customer Funds, account ending ***9534.

Clients who have not used CBIT previously but would like to use CUBIX Instant Transfer

You need to contact your Relationship Manager for requests to onboard with CUBIX Instant Transfer and provide your bank statement.

Supporting statement from the associated Customers Bank account taken from the Customers Bank portal must show:

The client's entity name
The client's physical address
The 8 digit account number with the first 4 digits masked
(Bank balance does not need to be included)

Example below:

What information is required to make a deposit via Instant Transfer?

You must input your Bullish deposit memo into the “Public Memo” field on the Customers Bank portal.

Format is important!

ONLY include the unique memo (e.g. 123456789).

DO NOT include any additional characters, client names, or descriptions. For example, avoid "Memo 123456789" or "123456789 Deposit".

Where can you locate your deposit memo reference?

This is the same unique 9 character memo used for bank transfer deposit. Clients can locate them with the following steps:

Select the Deposit option.
Select the Cash option.
Select USD.
Select any payment method.
Locate your unique Deposit Memo. The memo is typically a nine-digit code (e.g. 123456789) and applies to all cash deposits.

How to make a withdrawal via CUBIX Instant Transfer?

You must make a deposit via CUBIX Instant Transfer and enable withdrawals before being able to withdraw via CUBIX Instant Transfer.

To enable withdrawals:

Prior to making an initial withdrawal, you need to enable withdrawals for your accounts. You only need to perform this action once.

To enable withdrawals to your bank account:

Go to the left-hand navigation and choose Settings.
Choose Bank Accounts.
Choose the bank account from the list.
Choose Enable Withdrawals.
Use your two-factor authenticator (passkey or TOTP authentication) to authorize the action.

Note: For more information, see Withdrawal destination whitelisting - What you need to know.

To initiate a withdrawal:

Go to the left-hand navigation and choose Portfolio.
Choose the Withdraw button at the top right side of the screen.
Choose USD.
Select Destination with your Customer Bank details.
Enter the amount
Choose Review.
Choose Confirm, if the information is correct. Otherwise, choose Go Back and edit the information.
Use your two-factor authenticator (passkey or TOTP authentication) to authorize the action.

Note: The destination wallet address is pre-populated with the same address that made the deposit. Bullish will only process CUBIX Instant Transfer withdrawals to Customer Bank accounts that have successfully deposited to Bullish.

Is there a minimum/maximum transaction amount for CUBIX Instant Transfers?

There is no Bullish imposed minimum or maximum transaction size other than the standard withdrawal limit applied to the clients account.

What fees are charged?

There are no fees for transfers made via CUBIX Instant Transfer.

Can CUBIX Instant Transfers be made via the Custody API?

Yes - Custody API is available. Network = CUBIX. See our API documentation.

What will happen to clients' existing CBIT payment details?

After November 8, 2024, clients will no longer be able to deposit or withdraw USD via CBIT. Clients who want to withdraw USD via CUBIX Instant Transfer will be required to make a deposit first and follow the steps above to make a CUBIX Instant Transfer.

Alternatively, clients can exchange USD for USDC on the exchange.

Will CBIT and CUBIX be running in parallel?

Yes - Bullish will run both CBIT and CUBIX Instant Transfer in parallel until 8 November 2024 when Customers Bank officially deprecates CBIT.

On 8 November 2024, CBIT deposits and withdrawals will be disabled and clients will be unable to use CBIT.