What is an exchange account?¶

An exchange account lets a customer buy, sell, hold, convert, deposit or withdraw digital assets through a provider. It combines an internal customer ledger with provider-controlled blockchain infrastructure.

Trading and transfers may be off-chain¶

The exchange can hold private keys, pool assets and assign deposit addresses. Trades and transfers between customers may occur only in its internal records, while withdrawals use operational addresses that do not identify one customer publicly.

A provider must map blockchain deposits and withdrawals to the relevant user account.

Obtain the internal and external record¶

Preserve exchange, user and account IDs, asset and network, transaction references, addresses and times. Request identity, linked funding, trades, deposits, withdrawals, endpoints, sessions and authentication, with internal events distinguished from blockchain movement.

The registered customer need not be the transaction operator. Report customer account, provider custody, on-chain transaction and attributed user separately.