What is an Account Label?
Account Labels can be thought of as “sub account groups”. Within each account group, you can have many Account Labels. They are used to separate funds at a more granular level. One individual can now have 2 separated BTC available accounts, for example.
Our Phase 1 of the new Account Label product was released to production on 2021-03-30. At a high level, here are the features:
- Ability to create Account Labels. See section "Creating Account Labels" here.
- Ability to query data related to Account Labels. See section "GET requests involving Account Labels" here.
- Ability to transfer funds between Account Labels. See section "Transferring funds between Account Labels" here.
Phase 2 features include:
- Portal - Balances page will have the Account Label granularity.
- Websocket - Balances feed to contain Account Label information.
- Joint Account Creation - The ability for more than 1 individual to share an account(s). This is a separate, but related feature that is in the pipeline. More to come on this.