{"license":"CC-BY-4.0","licenseUrl":"https://creativecommons.org/licenses/by/4.0/","attribution":"ChainChoice (https://chainchoice.io)","category":"stablecoin_settlement","evidenceReadAt":"2026-09-28","generatedAt":"2026-11-12","criteria":[{"id":"float_custody","label":"Where the Platform's Float Legally Sits","weight":30},{"id":"wholesale_price_published","label":"Published Wholesale Price","weight":25},{"id":"licence_perimeter","label":"Whose Licence the Platform Operates Under","weight":25},{"id":"settlement_finality","label":"Settlement Finality and Failure Handling","weight":20}],"providers":{"bridge-xyz":{"float_custody":{"s":5,"q":"Funds received via your Virtual IBAN are held on a Master Account in our name held at Banking Circle and are excluded from the protection for unavailable deposits under the Luxembourg deposit guarantee scheme, the Fonds de Garantie des Dépôts Luxembourg (\"FGDL\") | funds on the Master Account…","u":"https://www.bridge.xyz/legal/eea-user-terms/bridge-building-s-a","d":"2026-09-28"},"wholesale_price_published":{"s":5,"q":"All transactions that necessitate a currency conversion (i.e., denomination in one fiat currency to another), your transaction will be charged a currency spread on top of the actual exchange rate up to 1% of the transaction's fiat value, which may vary based on transaction.","u":"https://www.bridge.xyz/legal/fee-disclosure-statement/overview","d":"2026-09-28"},"licence_perimeter":{"s":7,"q":"Services for EEA residents are provided under Bridge Building S.A. (RCS Luxembourg: B298785), licensed by the Commission de Surveillance du Secteur Financier (CSSF) as a Crypto Asset Service Provider (CASP licence N00000012) and Electronic Money Institution (EMI licence W00000024).","u":"https://www.bridge.xyz/legal/licenses/non-us-licenses","d":"2026-09-28"},"settlement_finality":{"s":9,"q":"Bridge accesses fiat rails on banking days and during banking hours and crypto rails 24/7/365. | Transactions which miss the cutoff will be processed the following day. | Transactions submitted before 2:30 PM on a business day are guaranteed to settle same day.","u":"https://apidocs.bridge.xyz/platform/orchestration/more/cutoffs","d":"2026-09-28"}},"bvnk":{"float_custody":{"s":5,"q":"This ensures that our creditors do not have recourse to clients' crypto-assets, particularly in the event of insolvency. | Sub-Custody: We may engage authorised sub-custodians to hold or safeguard client assets. | We may pool client crypto-assets using an omnibus wallet.","u":"https://www.bvnk.com/eu/custody-policy","d":"2026-09-28"},"wholesale_price_published":{"s":6,"q":"Commercial Fee : A pre-agreed percentage and/or fixed amount added to the BVNK Rate, as agreed with you. | Onboarding Fee : A one-time fee for account setup. Monthly Platform Fee : A platform fee charged monthly in arrears.","u":"https://www.bvnk.com/eu/pricing-policy","d":"2026-09-28"},"licence_perimeter":{"s":8,"q":"authorised and regulated by the Financial Conduct Authority as an Electronic Money Institution ( Reference Number: 901057 ) | If you have any questions, or would like to understand which party is relevant to based on the services provided to you please contact merchants@bvnk.com or your dedicated…","u":"https://help.bvnk.com/api/v2/help_center/en-us/articles/11094354781074.json","d":"2026-09-28"},"settlement_finality":{"s":8,"q":"Settlements arrive within the stated timeframes only if payments are submitted by the stipulated cut-off time (COT). | But note that SEPA_INST has a maximum transaction limit of €1,000,000 per transaction.","u":"https://docs.bvnk.com/bvnk/references/payment-methods","d":"2026-09-28"}},"circle_cpn":{"float_custody":{"s":7,"q":"Circle may hold Supported Digital Currencies credited to your Hosted Wallet with affiliated subcustodians, including First National Digital Currency Bank, N.A.","u":"https://www.circle.com/legal/user-agreement","d":"2026-09-28"},"wholesale_price_published":{"s":5,"q":"CPN: This fee is a variable basis-point charge, tiered by country group, to support core network functions including compliance, security, and infrastructure.","u":"https://www.circle.com/blog/circle-payments-network-cpn-a-concise-field-guide-for-prospective-network-participants","d":"2026-09-28"},"licence_perimeter":{"s":7,"q":"Circle Internet Financial Europe SAS is authorized as a Crypto-Asset Services Provider under Regulation (EU) 2023/1114 (MiCA), Authorization No. E2026-005, issued by the Autorité des Marchés Financiers on April 24, 2026. | UK Financial Conduct Authority E-Money Issuer License, No. 900480","u":"https://www.circle.com/legal/licenses","d":"2026-09-28"},"settlement_finality":{"s":6,"q":"During the fiat transfer, the CPN sends webhook notifications to the OFI indicating that the transfer has been confirmed or canceled. If the fiat transfer is canceled or fails for any reason, the BFI issues a refund of crypto to the OFI.","u":"https://developers.circle.com/cpn/concepts/payments/payments.md","d":"2026-09-28"}},"conduit_settlement":{"float_custody":{"s":5,"q":"Conduit maintains Client funds in safeguarded accounts that are segregated from Conduit's corporate operating accounts, including, when available, accounts held for the benefit of Clients (FBO Accounts) with regulated financial institutions","u":"https://conduitpay.com/mta-terms","d":"2026-09-28"},"wholesale_price_published":{"s":5,"q":"Combined spread (FX markup + take rate, plus your own markupBps when the order or the quote declared one) in basis points","u":"https://docs.conduit.financial/api-reference/quotes/price-a-conversion-payout-or-withdrawal.md","d":"2026-09-28"},"licence_perimeter":{"s":5,"q":"Nothing in the MTA shall be construed to require Conduit to obtain money transmission licenses in any jurisdiction where the \"agent of the payee\"exemption applies.","u":"https://conduitpay.com/mta-terms","d":"2026-09-28"},"settlement_finality":{"s":2,"q":"must be initiated no later than 11:00 am ET in order to be processed within two (2) banking days. | Conduit will transmit funds, thereby making such funds available to the designated recipient or financial institution, within the banking days set forth in E.","u":"https://conduitpay.com/mta-terms","d":"2026-09-28"}},"dlocal_stablecoin":{"float_custody":{"s":4,"q":"including maintaining customer funds in separate bank accounts held at a number of global, regional and local banks, and segregated from our proprietary funds, including as required pursuant to applicable regulations in the jurisdictions in which we operate.","u":"https://www.sec.gov/Archives/edgar/data/1846832/000207097926000113/dlo-20251231.htm","d":"2026-09-28"},"wholesale_price_published":{"s":5,"q":"Pricing for cross-border flows typically includes a transaction fee per payout, an FX spread, and may include additional components such as advance settlement fees or minimums based on volume.","u":"https://www.dlocal.com/our-solution/payouts/","d":"2026-09-28"},"licence_perimeter":{"s":5,"q":"registered as a Money Service Business (MSB) with FinCEN under MSB Registration Number 31000287499547. | Dlocal Ltd is registered in the EU, with registration Number C77538","u":"https://www.dlocal.com/legal/regulatory-disclosure/","d":"2026-09-28"},"settlement_finality":{"s":4,"q":"Crypto payouts are processed via direct stablecoin transfer to a blockchain wallet. This method requires specific beneficiary and crypto-specific parameters and is processed synchronously .","u":"https://docs.dlocal.com/docs/global-crypto-payouts","d":"2026-09-28"}},"rain_settlement":{"float_custody":{"s":5,"q":"\"Partner Direct Use\" means Partner's use of Virtual Account Services for Partner's own account using Partner's own funds, rather than on behalf of or for the benefit of any End-User.","u":"https://www.rain.xyz/legal-center/platform-terms","d":"2026-09-28"},"wholesale_price_published":{"s":4,"q":"To access the Services, you agree to pay the fees set forth in the Agreement. | Partner shall pay Signify the fees for Virtual Account Services as set forth in the Agreement.","u":"https://www.rain.xyz/legal-center/platform-terms","d":"2026-09-28"},"licence_perimeter":{"s":5,"q":"Nimbus LLC dba Third National is licensed as a Money Transmitter by the Commissioner of Financial Institutions of Puerto Rico. NMLS #2612780.","u":"https://www.third-national.com/","d":"2026-09-28"},"settlement_finality":{"s":3,"q":"Partner shall be solely responsible for all costs, fees, and losses associated with any failed, misdirected, reversed or disputed Virtual Account Services transaction | Transactions initiated based on incorrect, incomplete, or erroneous information submitted by an End-User or Partner are final and…","u":"https://www.rain.xyz/legal-center/platform-terms","d":"2026-09-28"}},"zero_hash":{"float_custody":{"s":4,"q":"platforms are required to wire the funds to zerohash with their platform code, along with \"FLOAT\" to indicate the destination of the funds.","u":"https://docs.zerohash.com/docs/standard-settlement","d":"2026-09-28"},"wholesale_price_published":{"s":4,"q":"Speak to a zerohash representative directly to engage in pricing discussions.","u":"https://docs.zerohash.com/docs/fees","d":"2026-09-28"},"licence_perimeter":{"s":8,"q":"Money Transmitter License, AKMT-011078 | Money Transmitter License, MT-1699379 | Virtual Currency Business Activity Company License, 0000017","u":"https://docs.zerohash.com/page/us-licenses-and-disclosures","d":"2026-09-28"},"settlement_finality":{"s":6,"q":"As a standard, fiat and digital asset withdrawals are processed between the hours of 4:00pm and 5:00pm Central. | U.S. Domestic wires are processed until 4:30pm Central (for same day value date) | Euro and British pound sterling withdrawals are processed from 7:30am Central - 8:30am Central (for…","u":"https://docs.zerohash.com/docs/when-are-fiat-withdrawals-processed","d":"2026-09-28"}}}}