A platform buys an API, a hosted fiat + stablecoin wallet it holds a balance in, and an agency conversion desk that turns EUR/GBP/USD into USDC/USDT/EURC and pays out — either to stablecoin addresses globally or onto USD/EUR/GBP bank rails (ACH, FedWire, FedNow, RTP, SEPA, Faster Payments, SWIFT) from virtual accounts. The strongest verified thing is the regulatory and timing disclosure: FCA FRN 901057 resolves on the FCA's own e-money register file dated 2026-08-12, and the docs publish a genuine per-rail cut-off-time table rather than an 'instant' adjective. The weakest verified thing is price — the rate card does not exist, and the one pricing surface that carries figures is a backward-looking MiCA transparency feed rather than an offer. Corrected during verification: the draft said BVNK's only pricing surface 'names every fee type and quantifies none of them'; BVNK also publishes a dated MiCA historic-transactions feed at /mt-mt/historic-transactions (71 pairs, date 2026-08-12, entity 'System Pay Services (Malta)') from which realised round-trip conversion cost is derivable — USD/USDC 7.5 bps, EUR/USDC 15.9 bps, EUR/USDT 45.2 bps — which the draft missed. Strongest on whose licence the platform operates under (8/10): Score held at 8 on re-derivation; every element the draft relied on was re-run independently on 2026-08-13 and every one held. Read from BVNK's Help Centre licence register (retrieved via the open Zendesk JSON API because the HTML is Cloudflare-gated at HTTP 403; the API reports the article edited_at… Weakest on where the platform's float legally sits (5/10): Corrected during verification: the draft scored 6 on the reasoning that 'two banking partners named with identifiers that resolve' satisfied the 'names the custodian' half of the 7-8 band, then deducted one band. Re-reading the terms, neither named bank is tied to the safeguarding account, so the base is the 5-6 band… Published price: No forward-looking wholesale price is published; one backward-looking rate disclosure is. (A) THE FEE-TYPE SURFACE.
Stablecoin Settlement
Stablecoin Settlement evaluated across where the platform's float legally sits, published wholesale price, whose licence the platform operates under, and settlement finality and failure handling.
Ranked on 4 published criteria weighted 30/25/25/20, which set goal alignment — 30 of the 86 points. The rest: regional access 20, evidence depth 18, ease of use 10, institutional trust 8. Profile match is shown in breakdowns but carries no weight.
What matters most before choosing in this category
Weighted on where the platform's float legally sits, published wholesale price, whose licence the platform operates under, and settlement finality and failure handling, in that order. THE PRICING PAGE HAS BEEN RETIRED AS A CATEGORY, and the failure mode is identical at all seven. bridge.xyz/pricing 404s while the docs pricing page reads in full 'Please reach out to sales@bridge.xyz to discuss pricing.' circle.com/pricing returns HTTP 301 to /contact/partner — Circle redirects the word 'pricing' straight to a sales form — and /cpn/pricing and developers.circle.com/cpn/pricing both 404. rain.xyz/pricing 301s to the homepage, and it is a configured redirect rather than a soft 404 because an unknown path still returns 404. conduit.financial/pricing 301s to conduitpay.com/pricing, which 404s. dlocal.com/pricing/ 404s. bvnk.com/pricing 404s. Zerohash's docs page actually TITLED 'Pricing' consists of one sentence: 'Speak to a zerohash representative directly to engage in pricing discussions.' Not one provider scores above 6 on published price; the pool mean is 4.9. This is an absence the tranche proved rather than assumed: 262 Bridge documentation pages via llms.txt, 953,566 bytes of BVNK docs, 98 v1 plus 366 v2 Conduit doc pages, dLocal's full 22-URL sitemap and 47KB docs index, and the 28-page CPN white paper were all swept, and no basis-point figure for the scored product appears on any of them.
Weighted on where the platform's float legally sits, published wholesale price, whose licence the platform operates under, and settlement finality and failure handling, in that order. THE PRICING PAGE HAS BEEN RETIRED AS A CATEGORY, and the failure mode is identical at all seven. bridge.xyz/pricing 404s while the docs pricing page reads in full 'Please reach out to sales@bridge.xyz to discuss pricing.' circle.com/pricing returns HTTP 301 to /contact/partner — Circle redirects the word 'pricing' straight to a sales form — and /cpn/pricing and developers.circle.com/cpn/pricing both 404. rain.xyz/pricing 301s to the homepage, and it is a configured redirect rather than a soft 404 because an unknown path still returns 404. conduit.financial/pricing 301s to conduitpay.com/pricing, which 404s. dlocal.com/pricing/ 404s. bvnk.com/pricing 404s. Zerohash's docs page actually TITLED 'Pricing' consists of one sentence: 'Speak to a zerohash representative directly to engage in pricing discussions.' Not one provider scores above 6 on published price; the pool mean is 4.9. This is an absence the tranche proved rather than assumed: 262 Bridge documentation pages via llms.txt, 953,566 bytes of BVNK docs, 98 v1 plus 366 v2 Conduit doc pages, dLocal's full 22-URL sitemap and 47KB docs index, and the 28-page CPN white paper were all swept, and no basis-point figure for the scored product appears on any of them.
Expert review and scoring weights
How this category is reviewed
Reviewed on where the platform's float legally sits, published wholesale price, whose licence the platform operates under, and settlement finality and failure handling.