A Radar gateway is a business that provides onboard and offboard ramps to the Radar network.
Digital assets are issued by businesses called “gateways” to represent a currency and settle payments in and out from the network. The way this works is similar to the traditional bank teller but the gateway is responsible for holding user account deposits and converting it into same value digital balance through the RADAR network.
In RADAR networks, each currency (not including VBC and VRP) has its own issuing gateway. When users wants to withdraw certain type of currency, the issuing gateway has responsibility to convert equivalent funds that the customer requests to be withdrawn.
A Radar gateway is any business that provides access to the Radar network via the following services:
Alice deposits $100 paper cash at ABC Bank for safe keeping. ABC Bank stores the cash in their vault.
ABC Bank credits the account with a $100 electronic balance. ABC Bank now owes Alice $100 cash on demand.
Alice needs cash. Alice goes to ABC Bank and requests redemption of her $100 balance. ABC Bank withdrawals $100 paper cash from its vault and hands over the paper cash to Alice.
Radar is a neutral P2P network platform. Radar does not own all types of crypto-currencies in the accounts as well as trust limit of the gateway. Therefore, users trusting the gateway must be based on fully understanding and trusting in the gateway. Radar will not guarantee the credit of gateway.
Users should be cautious of choosing gateway.
Any other reporting as required by law or internal policies in the country where the gateway operates.