Subnet Object issues external facing “addresses” for Synapse Wallets (Deposit Hub and Credit Hub), which enable Synapse Wallets to interface with the outside world. The idea is pretty simple, by default all Synapse Wallets are closed loop, issuing subnets should give them a public address that can be used by other networks to interoperate with these wallets. Currently we support issuing Account Numbers that enable ACH and Wire interoperability and also Card Numbers that enable Interchange based interoperability.
Our account/routing numbers (subnets) are identical to those found at traditional banks and allow for the same functionality (e.g. the user crediting or debiting their deposit account on our system from an external bank via ACH). Users simply need to provide their assigned account and routing number to their external bank or third party software.
Accounts don't automatically come with subnets - that is optional so you have the ability to create closed-looped systems. However, we encourage you to use account number issuance to receive funds, as there is little return risk for credits. This is especially helpful with large transactions or risky payment flows. We also recommend using account number issuance to set up direct deposit for payroll (when applicable). Please note that check issuance from these account/routing numbers is not supported. If you require check issuance, we recommend looking into our check issuance feature.
We also have the capability to issue cards on top of our accounts. They follow the functionality of those issued by traditional banks (e.g. ATM access, consumer protection), and give access to the interchange rails (e.g. providing the ability to push funds to the card/account).
Cards can be issued on top of our deposit and credit products. They can be virtual or physical and for businesses or individuals. We can issue debit BINs (cards that are used in the card networks' "debit card" payment network) and credit BINs (only available when the card is used for a credit account; makes use of the card networks' "credit card" payment network).