Manage counterparties

Overview

This page explains what a Counterparty is, what information you need to create one using the Aquanow portal, and step‑by‑step instructions to add a counterparty.

A Counterparty is any person or business you transact with using this platform — for example, a vendor, customer, exchange, or service provider. In the application, a Counterparty record centralizes:

• Identity and business details (legal name, registration, address, phone).

• KYC /AML reference data (registration number, registered country/region).

• One or more cryptocurrency wallet addresses and network details for sending/receiving funds.

• Know Your Customer (KYC) - These are processes and checks used to verify the identity of customers or counterparties (who they are, their address, legal status).

• Anti Money Laundering (AML) - These are policies, monitoring and controls designed to prevent, detect and report money‑laundering and terrorist‑financing activities.

Steps to create and add a Counterparty

To create and add a Counterparty, perform the following steps:

1. Go to Pay > Payouts and click Manage Counterparties button located at the to right of the screen.

OR

From the main menu, select Manage counterparties.

1. In the All Counterparties page that displays, click Add Entity.

1. In the Create Counterparty section displays. Fill in the counterparty fields.

• Counterparty type: Determines whether the counterparty is a business entity or not.

  • Business: A legal entity (company, corporation, LLC, nonprofit, etc.); use the company’s registered/legal name exactly as held by the bank.

• Reference Id: A Reference ID is an internal identifier that the user assigns to a counterparty record to make it easy to find, match and reconcile that counterparty with Aquanow systems and processes. It is not the counterparty’s legal registration number (though it can contain or reference it) — it is a user/organization-side key used for indexing and cross-referencing.

• Business Information: Provide the counterparty details such as:'

  • Company Legal Name: The counterparty’s full registered company name as shown on incorporation documents.

  • Industry/Nature of business: Short description of what the company does (E.g. Finance, banking, Manufacturing, etc.).

  • Registration number: Registration number (in the Counterparty form) is the official identifier issued to a business by a government or registrar when the business is incorporated or otherwise legally registered. It is used to verify the legal existence of the company and to support KYC, AML, tax, and audit processes.

  • Registered region: The state/province/region where the company is legally registered.

  • Registered country: The country where the company is incorporated or registered.

  • Telephone: Primary business contact phone number.

  • Business Address: Registered or primary street address for the company.

• Cryptocurrency address: Provide the cryptocurrency address for the counterparty, such as:

Add at least one wallet address for each counterparty.

• Wallet Type: The kind of wallet holding the address (custodial, self-hosted, etc.). It is used for routing, handling and compliance.

  • Custodial wallet (VASP or service provider): Managed by a third‑party platform (E.g. Coinbase, Binance, etc.).

  • Self‑hosted wallet: Controlled directly by the user with private keys (E.g: MetaMask, Trust Wallet, etc.).

• Label: It is a user-defined, optional field used to identify and organize cryptocurrency wallet addresses. It helps the user distinguish between different whitelisted addresses, such as Cold Storage or Exchange Deposit, for easier management. E.g. My_crypto_label

• Address: The public wallet/deposit address string where funds will be sent; ensure it matches the selected currency and network before saving. E.g. TQ9dX1p7z8q2aYx5mK9j1Fz7wG3bN4cH2

• Currency: The token/coin (BTC, ETH, USDT, XRP, etc.). It determines validation and available networks.

• Network: The blockchain/protocol (Ethereum, BSC, Bitcoin, etc.) on which the address exists. Network determines address format, fees and routing.

• Tag/Memo: Required for some currencies when sending to exchanges/custodians (e.g., XRP Destination Tag, Stellar/XLM Memo, BNB Memo). If required, enter the numeric/text memo exactly.

Some currencies include a Tag / Memo section. If applicable, optionally add a tag or a memo.

• Source Address: It marks the address as a source of funds / an incoming (deposit) address (i.e. funds originate from that address). Select this checkbox if the address is a known source of funds for AML tracking.

Source address is applicable for accounts that have source address whitelisting enabled.

• Withdrawal: It marks the address as a withdrawal/destination address (i.e. you will send/withdraw funds to that address). Select this checkbox if the address is an approved withdrawal destination (use to restrict outgoing transfers).

The user can select both Source and Withdrawal if the same address is used for both.

Once all fields have been populated, click Save (located on top).

The counterparty's cryptocurrency address details are added to Cryptocurrency address table.