Mercury — US startup banking, in one accounting workspace with your crypto
Mercury is the default bank for early-stage US startups, including most Web3 founders. We reconcile Mercury fiat against on-chain crypto in one workspace.
Mercury is the US startup bank — venture-backed companies, YC alumni, and many Web3 teams hold their fiat there. For a Web3 startup, the GL needs to reconcile Mercury (fiat) and on-chain wallets (crypto) under one chart of accounts. The Wag3s integration ingests Mercury via the official API, classifies fiat transactions, and produces unified reporting.
What the Mercury integration does
Mercury API ingest
All accounts (operating, treasury, savings) under one API key.
Fiat ↔ crypto reconciliation
USDC offramp deposits, fiat-on-ramp deposits matched to chain side.
ERP push-through
Mercury activity flows to QuickBooks / NetSuite / Xero alongside the crypto JEs.
The connection in 4 steps
Connect Mercury via API key
Generate a read-only API key in Mercury's developer settings and paste it into Wag3s. All accounts — operating, treasury, savings — are accessible under a single key.
Ingest fiat transaction history
Wag3s pulls the full transaction history across all Mercury accounts, classifying each movement as revenue, payroll, expense, or crypto on/off-ramp.
Match USDC off-ramp deposits to on-chain side
Wire and ACH deposits that correspond to crypto-to-fiat conversions are matched to the on-chain transfer using amount, timestamp, and counterparty fields.
Push unified JEs to ERP
Mercury fiat activity and on-chain wallet activity are batched into daily journal entries and pushed to QuickBooks, NetSuite, or Xero alongside each other.
Common configurations
The startup holds its VC runway in Mercury operating and treasury accounts while keeping a portion of protocol revenue in USDC on-chain. Wag3s reconciles Mercury (fiat) and on-chain wallets in one workspace, producing a single trial balance for the monthly close.
Contributors receive base salary via Mercury ACH and a top-up in USDC on Base. Wag3s ingests both sides — Mercury payroll disbursements and on-chain USDC transfers — and books the total compensation expense per contributor per period.
Revenue comes in as USDC on-chain and is off-ramped weekly to Mercury via a Circle integration. Wag3s matches each off-ramp on-chain event to its Mercury deposit, so realized FX and transfer fees are booked correctly without manual reconciliation.
Mercury integration questions
Does Wag3s support Mercury Treasury (money-market) accounts?
Yes. Mercury's savings and treasury accounts are ingested alongside the operating account. Interest accruals from Mercury Treasury are booked as interest income.
How are Mercury virtual cards handled?
Card transactions appear as individual expense lines. Wag3s classifies them by merchant category and maps them to the correct GL account based on your COA configuration.
Can Wag3s reconcile Mercury with both crypto wallets and Stripe at the same time?
Yes. Mercury, on-chain wallets, and Stripe can all be active in the same Wag3s workspace. Transfers between them are tagged as internal movements to avoid double-counting.
Other connectors that pair with this one.
Connect Mercury in minutes
Free during Alpha. No credit card. Native sync, audit trail, no spreadsheets.