That's the situation

When having "that's the situation" in this case, that means "this how things work"?

(About transfering digital cuerrencies or fiat money)
We have the most important thing that we obviously cannot forget about: it's a code that we input as the title of the transfer. It will be used to quickly verify our account and this transfer. that's the situation with Euro. what about Polish zloty? the panel looks analogously,