Provider at a glance
- Category
- Stablecoin Settlement
- Entity
- Not verified
- Official website
- conduitpay.com
Independent rankingchecked How it works
Details
Scored 63 out of 100 under methodology 2026.10.18, from the evidence read in September 2026.
Conduit Pay
Cross-border settlement accounts
Stablecoin Settlement
#6 Overall
Ranked #6 of 7 stablecoin settlement in the published ranking
63
ChainChoice Score
The ChainChoice Score, shown against 100: published scores run from 41 to 99.- High evidence confidence
Is Conduit Pay right for you?
Right for you if these matter most
- Published Wholesale Price5/10; the category best is 6
Look elsewhere if these come first
- Where the Platform's Float Legally Sits5/10 here; the category best is 7
- Whose Licence the Platform Operates Under5/10 here; Zero Hash scores 8
- Settlement Finality and Failure Handling2/10 here; Zero Hash scores 6
Not yet tested for your country. Markets it lists: Global.
to test where you can use it.
The rank above is the published one, the same for every reader. Find my best settlement provider shows where it lands for you.
What will Conduit Pay cost you?
Not priced on this basis
- Payments per month
- 500
- Average payment
- $100
How safe is Conduit Pay?
- Evidence: verified4 of 4 criteria rest on quoted, sourced receipts. Read September 2026.
- LicenceMiCA (EU): no register record on file here.
Alternatives to Conduit Pay
Compare all 4- 4Zero Hash10 points above · stronger on settlement finality (6 against 2)73
- 5dLocal4 points above · stronger on settlement finality (4 against 2)67
- 7Rain1 point below · stronger on settlement finality (3 against 2)62
For your setup
Find out if Conduit Pay fits you
The rank above is the published one — the same for every visitor. Answer the category's questions and this section shows where Conduit Pay lands for you, which criteria your answers weight up, and which stated needs the record does or does not meet. The published rank stays beside it.
- A few questions
- No account required
- Ranking-blind: no commercial input
- Personalised in under 60 seconds
Find my best settlement providerNothing is inferred from clicks, popularity or commercial value.
Why this rank
Why Conduit Pay ranks #6
Each strength is read from evidence on a 0–10 ladder and weighted as the published methodology states. The 32 objective points these produce (14.1 here) sit inside the score; availability, friction, trust record and measured data add the rest.
4 published criteria · Σ weight 100
CriterionWeightStrength · 0–10ScoreContrib.MedianBestRankEvidence
305+4.805.07#2/7Loading evidence…
255+4.005.06#2/7Loading evidence…
255+4.007.08#5/7Loading evidence…
202+1.286.09#7/7Loading evidence…
Hairline = best in this ranking · tick = its median · a missing bar is "not scored", never zero
Margin−4behind dLocal, #5
RobustnessOne point from changingacross a one-point change to each of its 4 criterion scores, the re-run scores 61–65 and ranks #6–#7
Evidence4 of 4 scored4 quoted, 4 with a source link
What would move the rank
Each line is the ranking run again with one of Conduit Pay’s criterion scores changed and every other value held: the smallest whole-point change on that criterion that moves its rank, and where the re-run puts it. Up to 4 climbs and 3 falls are listed, smallest change first. Nothing here is a forecast.
Where the Platform's Float Legally Sits 5 → 8 on its ladder · passes dLocal+368#6 → #5
Published Wholesale Price 5 → 8 on its ladder · passes dLocal+368#6 → #5
Whose Licence the Platform Operates Under 5 → 8 on its ladder · passes dLocal+368#6 → #5
Settlement Finality and Failure Handling 2 → 6 on its ladder · passes dLocal+468#6 → #5
Where the Platform's Float Legally Sits 5 → 4 on its ladder · Rain passes it−161#6 → #7
Published Wholesale Price 5 → 4 on its ladder · Rain passes it−161#6 → #7
Whose Licence the Platform Operates Under 5 → 4 on its ladder · Rain passes it−161#6 → #7
Smallest climb: where the Platform's Float Legally Sits 5 → 8 passes dLocal, #5.
Strengths
1 from the score dataWhere it leads
Best for readers who weight
- Published Wholesale Price — 5/10, category best 6/10
Tradeoffs
3 from the score dataWhere it trails
Not for readers who put first
- Where the Platform's Float Legally Sits — 5/10 against a category best of 7/10
- Whose Licence the Platform Operates Under — 5/10 against a category best of 8/10
- Settlement Finality and Failure Handling — 2/10 against a category best of 9/10
Record watch-outs
- The Money Transmission Agreement a US platform signs contains a reverse-solicitation attestation that the platform cannot truthfully make, and it is the load-bearing device holding up Conduit's no-state-licence posture. CLIENT ACKNOWLEDGES AND AGREES THAT THIS IRREVOCABLE AFFIRMATION IS A MATERIAL INDUCEMENT FOR CONDUIT TO ENTER INTO THIS AGREEMENT." Any US fintech that found Conduit through conduitpay.com — a US-facing site advertising Fedwire, FedNow, RTP and ACH, running a Money2020 USA landing page at /go/money2020 (re-checked, HTTP 200), and describing itself as 'Your modern correspondent banking alternative' for banks — is attesting to something its own acquisition path contradicts. The MTA also deems the contract signed in Billings, Montana wherever the client actually is — "ELECTRONICALLY SIGNING CLIENT ACKNOWLEDGES AND IRREVOCABLY AGREES THAT IF THEY ARE USING CONDUIT’S MSB SERVICES IN (A) THE U.S., THEY ARE ENTERING INTO THIS AGREEMENT WITHIN THE BOUNDARIES OF THE CITY OF BILLINGS IN THE STATE OF MONTANA" — and governs it by Montana law and the Montana enactment of UCC Article 4A (Montana Code Annotated, Title 30, Chapter 4A). The Money Transmission Agreement contains no arbitration clause at all (zero occurrences of the string 'arbitrat') and no liability cap. Both provisions live in the separate Master Services Agreement at https://conduitpay.com/service-agreement, which reads "Our maximum liability to you under the MSA is limited to the lesser of (i) the total amount of fees actually paid by you to Conduit in the three months preceding the event that is the basis of your claim, or (ii) $5,000.00." and which routes disputes through a notice-and-meeting process into arbitration, with courts in Billings, Montana for injunctive relief. Stacked on top is the Section L indemnity in the MTA making the platform liable for any "licensing obligation Conduit incurs" if the agent-of-payee predicate fails. Second thing to know: the three contracting documents are dated June 4, 2025 (MTA), March 23, 2026 (ToS) and July 13, 2026 (MSA), and they disagree about custody and about which entity holds the FINTRAC registration. The MTA is the oldest, still describes the v1 world, and is the one that controls money transmission. Title verified 2026-08-13 against the contract itself: the platform keeps title. "Prior to completion of Client’s transaction, these movements do not transfer beneficial ownership of Client-attributed value to Conduit." (https://conduitpay.com/terms-mta) "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 (collectively “FI Accounts”)." (https://conduitpay.com/terms-mta)
Competitive position
Where Conduit Pay leads and where it trails
Rank on every objective dimension among the rows scored on it. A criterion in the top third of its pool is listed as a lead, the bottom third as a trail; the middle is neither. Popularity, size and commercial terms are not dimensions.
Availability#1 / 714.0 of 20 · constant here
Published criteria#6 / 710.6 of 30 · best 15.8
Friction#1 / 72.7 of 10 · constant here
Trust record#1 / 73.2 of 8 · constant here
Measured data#6 / 78.3 of 18 · best 9.7
Where Conduit Pay leads
- Where the Platform's Float Legally Sits#2 / 7
- Published Wholesale Price#2 / 7
Where it trails
- Whose Licence the Platform Operates Under#5 / 7
- Settlement Finality and Failure Handling#7 / 7
Closest alternatives
The 3 nearest rows by score
Nearest by published score in either direction. Each card states the criteria on which the two rows differ and the cost difference under the same scenario inputs; the compare arithmetic below shows why the higher one ranks higher.
Rain#7 of 7 · score 62 · 1.0 point behind
Conduit Pay leads on
- Published Wholesale Price5 vs 4
Rain leads on
- Settlement Finality and Failure Handling3 vs 2
Largest single reason Conduit Pay is ahead: published criteria (+0.5 display points).Scenario cost: Rain has no verified pricing for this scenario.
dLocal#5 of 7 · score 67 · 4.0 points ahead
Conduit Pay leads on
- Where the Platform's Float Legally Sits5 vs 4
dLocal leads on
- Settlement Finality and Failure Handling4 vs 2
Largest single reason dLocal is ahead: measured data (+3.6 display points).Scenario cost: dLocal has no verified pricing for this scenario.
Zero Hash#4 of 7 · score 73 · 10.0 points ahead
Conduit Pay leads on
- Where the Platform's Float Legally Sits5 vs 4
- Published Wholesale Price5 vs 4
Zero Hash leads on
- Whose Licence the Platform Operates Under8 vs 5
- Settlement Finality and Failure Handling6 vs 2
Largest single reason Zero Hash is ahead: published criteria (+6.2 display points).Scenario cost: Zero Hash has no verified pricing for this scenario.
Against the leader
80 vs 63 · gap 17.0Why BVNK ranks above Conduit Pay
The compare workspace's arithmetic applied to these two rows. Each dimension's share of the gap is its weight × the difference, on the displayed scale — it reproduces the displayed gap of 17.0 to within rounding.
DimensionThisBVNKGap share
Availability · 23% weight · constant here14.014.0same
Published criteria · 35% weight10.615.8−13.5, worse
Friction · 12% weight · constant here2.72.7same
Trust record · 9% weight · constant here3.23.2same
Measured data · 21% weight8.39.7−3.6, worse
Published criterionThisBVNKPoints
Published Wholesale Price · w2556−0.80, worse
Whose Licence the Platform Operates Under · w2558−2.40, worse
Settlement Finality and Failure Handling · w2028−3.84, worse
Net6380−17.0
Your scenario
Conduit Pay is not priced for this scenario
Percentage and fixed legs on each payment, for a year. Excludes chargebacks, FX markup and settlement fees priced separately. Change an input and every figure recomputes from the published rate; the published rank does not move.
your cost/yr · default scenario — set your own
Payments per month · your input500
Average payment · your input$100
Rate read from the provider’s published pricing ↗ on 28 September 2026.
your cost/yrCost is stated as your cost/yr in USD; it is never a yield, never annualised, and it does not enter the score.
Not priced on this basis
Under the default inputs · USDCategory medianNot priced0 of 7 rows priced
Cheapest pricedNone pricedDifference not stated · availability not applied — set your country to filter
7 of 7 rows in this ranking have no verified rate for this scenario and are absent from the median, not counted as free.
Evidence
Evidence read 28 September 2026
One row per published criterion: the page each strength was read from, its source type by domain, the reading date and whether the file and the published table agree. Open a row for the quote and the receipt.
4 of 4 cells scored
Score evidenceVerified4 of 4 criteria reconstruct from receipts
4 of 4 criteria reconstruct from a quoted, sourced receipt equal to the published strength.Public receiptsReading…4 quoted with a source URL
The receipt file has not been read yet.Evidence confidenceHighcoverage and corroboration, never freshness
4/4 criteria scored, with 4 dated sources quoted.RobustnessOne point from changingrank #6 to #7 across one-point re-runs
Whether the position holds when one criterion score is changed by one point and the ranking is run again. It is always a re-run of the ranking, never an estimate.The newest evidence read on the platform is 3 November 2026; this category's reading is older. The scores stand as read on 28 September 2026.
Reading the evidence ledger…
CriterionSourceTypeReadFreshnessStatusReceipt
Where the Platform's Float Legally Sitsstrength 5 · weight 30Report an error—28 September 2026*
Unknown
No reading date is recorded for this cell or its category.No receipt
A strength is published but no quote or source page is on file for it.Published Wholesale Pricestrength 5 · weight 25Report an error—28 September 2026*
Unknown
No reading date is recorded for this cell or its category.No receipt
A strength is published but no quote or source page is on file for it.Whose Licence the Platform Operates Understrength 5 · weight 25Report an error—28 September 2026*
Unknown
No reading date is recorded for this cell or its category.No receipt
A strength is published but no quote or source page is on file for it.Settlement Finality and Failure Handlingstrength 2 · weight 20Report an error—28 September 2026*
Unknown
No reading date is recorded for this cell or its category.No receipt
A strength is published but no quote or source page is on file for it.How you can lose money here, and what the ranking scores
- Custody failure (Conduit Pay 5/10): whoever holds the assets loses or withholds them.Scored by Where the Platform's Float Legally Sits · 30%
- Regulatory failure (Conduit Pay 5/10): no licence where you are, or a forced market exit.Scored by Whose Licence the Platform Operates Under · 25%
- Execution failure (Conduit Pay 2/10): you get a worse price, later, or nothing.Scored by Settlement Finality and Failure Handling · 20%
Not assessed by this ranking: Control failure, Liveness failure, Insolvency failure, Exit failure, Information failure. A high place says nothing about these; the Methodology tab says what each means. Also scored, as cost, quality or a summary of several families: Published Wholesale Price (25%).
Facts
facts, not scoresWhat the record publishes
- Pricing
- NO WHOLESALE PRICE IS PUBLISHED. There is no pricing page: https://
conduitpay .com /pricing returns HTTP 404 and https:// conduit .financial /pricing redirects to it (both fetched 28 September 2026). The docs pricing page cited until now, https:// docs .conduit .financial /core-concepts /quotes /pricing, also returns HTTP 404 on 2026-09-28: the v1 documentation was retired and docs.conduit.financial now serves the v2 docs. What is published is the fee STRUCTURE with no figures. The quote guide (https:// docs .conduit .financial /guides /quote-before-you-order, fetched 28 September 2026, HTTP 200) prices each move only at runtime - "A quote prices a move before you create it." - and the quote API reference (https:// docs .conduit .financial /api-reference /quotes /price-a-conversion-payout-or-withdrawal .md) defines the rate field as "Combined spread (FX markup + take rate, plus your own markupBps when the order or the quote declared one) in basis points", with any flat Conduit fee returned as a separate fees[] entry owned by "conduit". The guide's sample responses show "totalSpreadBps": "20" and a fixed "5.000000" USDC conversion fee on a 10,000 USDC to USD quote, and "totalSpreadBps": "25" on a payout quote; these are illustrative example payloads, not a published rate, and are not scored. The homepage (https:// conduitpay .com /, fetched 28 September 2026) says only "Competitive, tiered pricing based on volume." The Money Transmission Agreement (https:// conduitpay .com /mta-terms, Last Updated 4 June 2025) confirms fees are disclosed per transaction: "Conduit shall, in accordance with U.S. federal law, deduct service fees from the amount of money transmitted on Client's behalf (money transmission fees). Conduit agrees to notify the Client of such money transmission fees prior to initiating an MTS." and "Conduit shall disclose the exchange rate to convert between different currencies, which shall be inclusive of service fees, if any (foreign exchange fee)." The one priced term it does publish favours Conduit: conversions are rounded to two decimals "in whichever direction is most advantageous to Conduit." The Master Services Agreement (https:// conduitpay .com /service-agreement, Last Updated 13 July 2026) puts the numbers in a private document: "the MSA Order Form discloses pricing for our services". No per-payout fee, spread figure, minimum or tier table is published.Conduit Pay — official page at docs.conduit.financial ↗ · 28 September 2026 - Prices published in
- USDConduit Pay — official page at docs.conduit.financial ↗ · 28 September 2026
- Licences held
- United States: Registration / authorisation
- Compliance level
- partial
- Regulatory note
- PUBLISHED BY CONDUIT (homepage footer, https://
conduitpay .com /, re-fetched 13 August 2026), character-exact and re-verified: "12835304 Canada Inc. (d/b/a Conduit) is registered with the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) as a money services business (MSB), is subject to the Retail Payment Activities Act (RPAA), and is registered with the Bank of Canada as a …" - Supported chains
- USDC on Ethereum, Base, Solana and Polygon (docs.conduit.financial/guides/supported-assets — table re-fetched and re-read during verification), USDT on Ethereum and Tron (same page, confirmed), RLUSD on Ripple Ledger (same page, confirmed), Stellar appears in the v2 payout docs as a valid destination chain — confirmed verbatim: "a Stellar `G...` address must pass its StrKey checksum" (v2.docs.conduit.financial/guides/send-payout) — though it is absent from the v1 supported-assets table, Non-custodial wallet provisioning covers a shared-key EVM set plus tron as a separate address; confirmed verbatim in v2.docs.conduit.financial/concepts/crypto-wallets, which names "the default set of supported chains (`ethereum`, `base`, `polygon`, `tron`)" and explains that adding an EVM chain "reuses the existing shared address", Fiat legs: USD (pay-in + payout), EUR, GBP, BRL, MXN all pay-in + payout, and COP payout-only — from the supported-assets table; HKD and SGD payouts were added per changelog entry 11 February 2026: "Payouts in HKD and SGD are now supported. HKD payouts are available in Hong Kong, and SGD payouts are available in Singapore.", MARKETING/DOCS MISMATCH, re-confirmed during verification: the homepage rails strip lists 'USDH' as a supported stablecoin (rendered as region 'stablecoin' / 'USDH' / 'instant'), but USDH appears nowhere in either documentation corpus (98 v1 pages, 366 v2 pages, both counts re-verified); the docs list only USDC, USDT and RLUSD
- Markets served
- global
- Primary markets
- Not published
- Restricted markets
- Not published
- Operating limits
- Not published
- Availability note
- Not published
No confirmed legal entity is on file for this record. Nothing is inferred from the brand name.
If something goes wrong with Conduit Pay: where to complain, and where to report a scam
Loading the routes for your country.
How this page is reviewed
Reviewed means this product in this category was read against its sources on or after that date; every ranked category is re-read at least every 45 days. Models research, extract and parse. A deterministic engine ranks. Every quote passes an adversarial refute pass.
Accountable for this review: Mathias Siemonsmeier, Founder.
How we review · Review calendar · Corrections log · How we make money
History
What the record carries
Changes to published ranks are recorded in a ledger; every step and its cause is listed on the rank-history page. The entries below begin with the current verified snapshot, then the methodology versions whose changes applied to this category, newest first.
9 methodology entries
- 28 September 2026Current verified snapshot · methodology 2026.10.18Score 63, #6 of 7. 4 of 4 criteria scored. History starts here; earlier values are not interpolated.
- 10 October 2026
2026.10.8When nothing serves your country, the list shown for reference is the published ranking · platform-wide- fixed The reference list shown when nothing serves your country is the published order with the published scores, and a build check now fails any such list out of that order or with a score the ranking does not publish.
- fixed The explorer prints an overall rank only for a row the published ranking holds; a country entrant such as Coinbase Commerce for US merchants shows no overall rank.
- changed Published orders do not move. Country results change only where nothing serves the country: in India bill pay keeps Bitcoin Well first and now shows Strike second, as published; 35 such runs across all categories and countries now match the published list exactly.
- 10 October 2026
2026.10.6A criterion you require re-scores the rows that meet it · platform-wide- changed The explorer sends each criterion you require, at any band, as fit_required with your other answers; region, licence, chain and fact filters stay filters. On /best, a required criterion joins For you as a marked preference does, which needs your country; Overall stays the published ranking, filtered.
- added Every published criterion has a golden case as the explorer sends it (require:<criterion>), so the order a requirement gives is replayed and gated as the published order is, and a change to it needs an entry here.
- 16 September 2026
2026.09.15Dimension scores carry tenths, and eleven more categories are re-read from primary sources · platform-wide- changed Dimension scores resolve to tenths of a point (O-04b), and weightedTotal is rounded to six decimal places before the order is read. 518 published scores move across 107 categories that were not re-read; none of them moves by more than 4 points, and most move by 1.
- fixed 66 published scores change in the eleven re-read categories, against a verbatim source each. The largest moves are Reflexer RAI (−16), Beefy and Unrekt (−11), Aztec (−10) and Golem (+9) — all of them rows whose sources had moved since their last read.
- changed Published order moves in 38 of 119 categories and three #1s change: smart_contract_audits (Zellic → Certora) and travel_rule_compliance (Sumsub Travel Rule → CodeVASP) on the finer resolution, kyc_compliance (Veriff → Sumsub) on the re-read.
- added availabilitySource (O-04g): for a reader who states a country, a row whose availability in that country rests on a region tag its record gives no source for sorts below every sourced row. It is inert in every order published here, which states no country.
Methodology 2026.10.18, the same published run every visitor sees · receipt stablecoin_settlement:conduit_settlement:2026.10.18:b07adeeb0de1
Are you Conduit Pay? Reply to this verdict, or send evidence, ask for a correction or claim the listing. Every message gets a public ticket number; none of it changes a rank unless a public page or a signed statement supports it.