Generating USDC Deposit Addresses on Solana for Sandbox Banks

The following steps must be followed in order to generate a USDC deposit address on Solana for Sandbox banks.

This procedure is required because rent must be paid on Solana in order to generate token deposit addresses.

Note: this procedure is not required to generate deposit addresses on Solana in Production. In Production, rent is automatically paid on your behalf by the Cybrid platform.

You will be invoiced for this rent at the end of the month.

Here are the steps you must follow in Sandbox:

Step 1: Enable the USDC_SOL-USD and SOL-USD trading symbols on your bank

Step 2: Create a SOL trading account for your customer

Step 3: Create a deposit address for the SOL trading account

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Note: If you receive an error on this step, contact Customer Support via Slack to enable deposit addresses for your bank in Sandbox. Deposit addresses will need to be enabled both for SOL and USDC_SOL.

Step 4: Get the address of the newly created SOL deposit address

Step 5: Transfer at least 0.01 SOL on chain (Solana Devnet) to the newly created deposit address

Step 6: Confirm that you've received the deposit in the trading account by looking at the balance on the SOL trading account

Step 7: Create a USDC_SOL trading account for the customer

Step 8: Create a deposit address for the USDC_SOL trading account

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Note: If you receive an error on this step, contact Customer Support via Slack to enable deposit addresses for your bank in Sandbox. Deposit addresses will need to be enabled both for SOL and USDC_SOL.

Step 9: Get the address of the newly created USDC_SOL deposit address

Step 10: Transfer USDC on chain (Solana Devnet) to the deposit address

Step 11: Confirm you've received the deposit in the trading account by looking at the balance on the USDC_SOL trading account