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A Counterparty represents an external destination that funds can be sent to or from Otim. This can be an external wallet address on any supported chain or a traditional bank account. Counterparties are how you model the “other side” of an outbound transfer. Every Counterparty belongs to an Entity. This creates a clear ownership chain: your Platform owns the Entity, the Entity has been verified through KYC/KYB, and the Counterparty is a known destination tied to that verified identity. This structure ensures that outbound transfers always have a traceable path from source to destination.

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Types of Counterparties

Counterparties come in two forms:
  • Wallet: An external blockchain address. Use this when you need to send tokens to an address outside of your Platform’s Accounts.
  • Bank account: A traditional bank account with routing and account details. Use this when you need to send fiat to an external bank.

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When to use Counterparties

Counterparties are required whenever you want to move funds outside of your Platform. Transfers between your own Accounts do not need a Counterparty since both sides are already within your Platform. But as soon as the destination is external, you need a Counterparty to represent it. A single Entity can have multiple Counterparties. For example, a verified business Entity might have one Counterparty for a partner’s wallet address and another for their operating bank account.