Settlement occurs on a post-trade basis. This means all digital and fiat currencies are exchanged after a trade is agreed upon. Once you “accept” the trade terms, you and Genesis will exchange USD and digital assets to complete the trade settlement. Genesis does not custody counterparty funds, so there is no need to pre-fund an account.
You will need to retrieve your wallet address from the wallet that you have chosen and enter it into the platform. Genesis’ bank wire instructions are in the platform as well, and a USD bank wire should be actioned ASAP to send funds to Genesis.
If you are acting as the seller, you deliver the digital currency to the wallet provided by Genesis and receive USD into your bank account. You would retrieve Genesis’ wallet address from the platform, and would also need to enter your bank wire instructions into the platform so that Genesis knows where to send the USD.