Cashout allows you to convert your Devdraft account balances (USDC and EURC) into local currency and withdraw funds to your bank accounts and mobile wallets in supported regions. Currently serving Zambia and Malawi with expanding coverage.

​
Supported Regions

Zambia 🇿🇲

Available Withdrawal Methods:
  • Bank account transfers to local Zambian banks
  • Mobile money wallets (MTN, Airtel, Zamtel)
  • Local currency: Zambian Kwacha (ZMW)
  • Processing time: 1-3 business days

Malawi 🇲🇼

Available Withdrawal Methods:
  • Mobile money wallets (Airtel Money, TNM Mpamba)
  • Local currency: Malawian Kwacha (MWK)
  • Processing time: 1-24 hours
  • Banking: Coming soon
More African regions are being added regularly! Malawi banking support and additional countries are in development.

​
Setting Up Your Cashout Region

The first step in using Devdraft’s cashout feature is selecting and configuring your target region. This determines which withdrawal methods will be available and what local currency you can convert to.
Cashout region selection showing Zambia and Malawi options - light modeCashout region selection showing Zambia and Malawi options - dark mode

Region Selection Interface

​
How Region Selection Works

Choosing Your Target Country

​
Cashout Activity Tracking

Monitor all your conversion and withdrawal activities with comprehensive tracking tools.
Cashout activity tracking dashboard showing recent transactions - light modeCashout activity tracking dashboard showing recent transactions - dark mode

Cashout Activity Dashboard

​
Activity Dashboard Features

Transaction History

Complete audit trail of all cashout activities:
  • Currency conversions with exchange rates used
  • Withdrawal requests and their current status
  • Processing times and completion dates
  • Fee breakdown for each transaction

Real-Time Status

Live updates on your cashout requests:
  • Pending conversions awaiting confirmation
  • In-progress withdrawals being processed
  • Completed transactions with confirmation details
  • Failed transactions with detailed error information

Financial Analytics

Insights into your cashout patterns:
  • Total amounts cashed out by currency
  • Average processing times by method
  • Fee analysis and cost optimization suggestions
  • Regional breakdown of withdrawal activity

Export & Reports

Comprehensive reporting capabilities:
  • Export transaction history to CSV/PDF
  • Monthly and quarterly cashout summaries
  • Tax reporting assistance documents
  • Compliance audit trail generation

​
How Cashout Works

1

Set Up Your Region

Create a cashout region for your target country (currently Zambia)
2

Add Withdrawal Methods

Add your local bank accounts or mobile wallet details
3

Convert Currency

Convert your USDC or EURC to local currency at current exchange rates
4

Withdraw Funds

Send converted funds to your chosen bank account or mobile wallet
5

Receive Money

Funds arrive in your local account within 1-3 business days

​
Video Tutorial: Setting Up Cashout

Learn how to set up cashout for your region:

​
Withdrawal Methods

Direct Bank Transfers:Supported in Zambia:
  • All major Zambian banks through Lenco ZM integration
  • Secure bank-to-bank transfers
  • Account verification required
Requirements:
  • Valid local bank account
  • Account holder name matching your Devdraft profile
  • Correct bank and account details
Processing Time: 1-3 business days
Banking support for Malawi is coming soon! Currently, mobile money is available for Malawian users.

​
Currency Conversion

From USDC to ZMW

USD Coin to Zambian Kwacha
  • Real-time exchange rates
  • Transparent conversion fees
  • Instant rate quotes
  • Market-competitive pricing

From EURC to ZMW

Euro Coin to Zambian Kwacha
  • Live EUR to ZMW rates
  • Cross-currency conversion
  • Clear fee structure
  • Updated every 30 seconds

From USDC/EURC to MWK

To Malawian Kwacha
  • Real-time conversion rates
  • Competitive exchange rates
  • Mobile money ready
  • Transparent pricing

​
Setting Up Cashout Regions

​
Processing Times and Fees

Expected Settlement:
MethodProcessing TimeAvailability
Mobile Money1-24 hours24/7
Bank Transfer1-3 business daysBanking hours
Currency ConversionInstant24/7
Balance UpdateReal-time24/7

​
Security and Compliance

​
Best Practices

1

Verify Account Details

Accuracy is Critical:
  • Double-check all bank account information
  • Ensure mobile wallet numbers are correct
  • Verify account holder names match exactly
  • Test with small amounts first
2

Monitor Exchange Rates

Optimize Conversions:
  • Check rates before converting large amounts
  • Consider market timing for better rates
  • Monitor rate trends over time
  • Set up rate alerts if needed
3

Plan for Processing Times

Timing Considerations:
  • Allow extra time for bank transfers
  • Use mobile money for urgent needs
  • Consider weekends and holidays
  • Plan around local banking hours
4

Keep Records

Documentation:
  • Save all transaction confirmations
  • Keep exchange rate records
  • Maintain withdrawal receipts
  • Track for tax and accounting purposes

​
Coming Soon

Malawi Banking 🇲🇼

Bank Account Support:
  • Local Malawian bank partnerships
  • Direct bank transfers
  • Enhanced withdrawal limits
  • Secure bank-to-bank transfers

Additional Regions

Expansion Roadmap:
  • More African countries
  • Additional mobile money providers
  • Expanded banking partnerships
  • New local currencies
Cashout functionality requires completed KYC verification and may have different limits based on your verification level and transaction history.