What is an exchange rate?
Exchange rates define how much you’ll receive when converting between different currency types. The platform supports:- Fiat to stablecoin conversions (e.g., USD to USDC)
- Stablecoin to fiat conversions (e.g., USDT to BRL)
- Fiat to fiat conversions Q4/2025
Exchange rate types
There are two types of exchange rates available, each suited for different use cases.Floating rate
A floating rate provides a real-time reference rate without locking in the price. Use this to show estimated conversion amounts in your UI. The actual rate applied may vary slightly based on market conditions at execution time. No additional fees apply. Example: Display an estimated conversion amount before a user confirms a transaction.Locked rate
A locked rate guarantees the exact conversion rate for a specific time period. When you request a locked rate, you receive anexchangeRateId that locks in the quoted rate.
Available lock durations are 10s, 30s, 1m, and 5m. Lock durations over 10 seconds include additional fees to handle volatility risk.
Example: Quote a guaranteed price to a customer, giving them time to review and confirm before the rate expires.
Rate comparison
| Feature | Floating rate | Locked rate |
|---|---|---|
| Rate guarantee | No | Yes |
| Lock duration | N/A | 10s, 30s, 1m, 5m |
| Amount inputs | Source amount only | Source or target amount |
| Expiration | No | Yes |
| Additional fees | No | No for 10s, Yes for 30s+ |
| Best for | Immediate execution, low friction | Guaranteed pricing, exact quotes |