Provider at a glance
- Category
- Stablecoin Settlement
- Entity
- Not verified
- Official website
- dlocal.com
Independent rankingchecked How it works
Details
Scored 67 out of 100 under methodology 2026.10.18, from the evidence read in September 2026.
dLocal
Emerging-market payouts API
Stablecoin Settlement
#5 Overall
Ranked #5 of 7 stablecoin settlement in the published ranking
67
ChainChoice Score
The ChainChoice Score, shown against 100: published scores run from 41 to 99.- High evidence confidence
Is dLocal 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 Sits4/10 here; Conduit Pay scores 5
- Whose Licence the Platform Operates Under5/10 here; Zero Hash scores 8
- Settlement Finality and Failure Handling4/10 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 dLocal cost you?
Not priced on this basis
- Payments per month
- 500
- Average payment
- $100
How safe is dLocal?
- Evidence: verified4 of 4 criteria rest on quoted, sourced receipts. Read September 2026.
- LicenceMiCA (EU): no register record on file here.
Alternatives to dLocal
Compare all 4- 4Zero Hash6 points above · stronger on licence perimeter (8 against 5)73
- 6Conduit Pay4 points below · stronger on float custody (5 against 4)63
- 7Rain5 points below · stronger on float custody (5 against 4)62
For your setup
Find out if dLocal fits you
The rank above is the published one — the same for every visitor. Answer the category's questions and this section shows where dLocal 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 dLocal ranks #5
Each strength is read from evidence on a 0–10 ladder and weighted as the published methodology states. The 32 objective points these produce (14.4 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
304+3.845.07#6/7Loading evidence…
255+4.005.06#2/7Loading evidence…
255+4.007.08#5/7Loading evidence…
204+2.566.09#5/7Loading evidence…
Hairline = best in this ranking · tick = its median · a missing bar is "not scored", never zero
Margin−6behind Zero Hash, #4
RobustnessHoldsacross a one-point change to each of its 4 criterion scores, the re-run scores 65–69 and stays #5
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 dLocal’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 4 → 7 on its ladder · passes Zero Hash+373#5 → #4
Published Wholesale Price 5 → 9 on its ladder · passes Zero Hash+473#5 → #4
Whose Licence the Platform Operates Under 5 → 9 on its ladder · passes Zero Hash+473#5 → #4
Settlement Finality and Failure Handling 4 → 9 on its ladder · passes Zero Hash+573#5 → #4
Where the Platform's Float Legally Sits 4 → 1 on its ladder · Conduit Pay passes it−361#5 → #7
Published Wholesale Price 5 → 2 on its ladder · Conduit Pay passes it−362#5 → #7
Whose Licence the Platform Operates Under 5 → 2 on its ladder · Conduit Pay passes it−362#5 → #7
Smallest climb: where the Platform's Float Legally Sits 4 → 7 passes Zero Hash, #4.
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 — 4/10 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 — 4/10 against a category best of 9/10
Record watch-outs
- Your balance with dLocal is a trade payable, not a custodied asset, and dLocal never tells you otherwise on a surface you would actually read. The FY2025 20-F books US$812,895 thousand of "Trade Payables" that "correspond to liabilities owed to Merchants, either related to pay-in transactions processed or payout transactions pending at their request", and the same filing's policy note says "Trade and other payables are generally unsecured and due within 30 days." The only segregation language anywhere is an SEC risk factor promising "separate bank accounts held at a number of global, regional and local banks" — no bank is named, no attestation is published, no insolvency treatment is stated, and the ring-fencing is expressly scoped to "jurisdictions where our subsidiaries are licensed or supervised as financial institutions (for example... the European Union and the United Kingdom)", which is not where the 44+ delivery markets are. The words 'custodian', 'trust account' and 'client money' appear nowhere in the filing at all. Meanwhile the product page tells you "No custody risk" — which is true only in the narrow sense that you are not running a wallet. And check which entity you are actually signing: the footer on the product page itself misstates its own company number (OC 424987, which belongs to an unrelated firm, Wycliffe Ventures LLP) and quotes an MSB registration number that returns nothing at FinCEN. If you are going to hold operating float here, get the safeguarding position, the account name and the insolvency waterfall written into the contract per receiving entity before you fund, because none of it is published and there is no public merchant agreement to fall back on (https://www.dlocal.com/legal/terms-and-conditions/ is website-use terms, LAST UPDATED: ON APRIL 2024, whose body contains the words 'funds', 'balance', 'settlement', 'segregated', 'custody' and 'insolvency' exactly zero times). Title verified 2026-08-13 against the contract itself: no platform contract is published, so the question cannot be answered from public documents. "All Funds deposited in the Bank Account will be held on trust for the Company and cannot be used by the Service Provider for any purpose other than the limited purpose of delivering Payments to the End Users pursuant to Payment Instructions and for settlement of the Fees." (https://plane.com/terms/dlocal) "We are Dlocal Corp. LLP (“we”, “us” or “Dlocal” the “Service Provider”), a company registered in England and Wales under company number OC424978 and with our registered office at 4 King’s Bench Walk, Temple, London, EC4Y 7DL, United Kingdom." (https://plane.com/terms/dlocal)
Competitive position
Where dLocal 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#5 / 710.8 of 30 · best 15.8
Friction#1 / 72.7 of 10 · constant here
Trust record#1 / 73.2 of 8 · constant here
Measured data#1 / 79.7 of 18 · pool best
Where dLocal leads
- Published Wholesale Price#2 / 7
Where it trails
- Where the Platform's Float Legally Sits#6 / 7
- Whose Licence the Platform Operates Under#5 / 7
- Settlement Finality and Failure Handling#5 / 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.
Conduit Pay#6 of 7 · score 63 · 4.0 points behind
dLocal leads on
- Settlement Finality and Failure Handling4 vs 2
Conduit Pay leads on
- Where the Platform's Float Legally Sits5 vs 4
Largest single reason dLocal is ahead: measured data (+3.6 display points).Scenario cost: Conduit Pay has no verified pricing for this scenario.
Rain#7 of 7 · score 62 · 5.0 points behind
dLocal leads on
- Published Wholesale Price5 vs 4
- Settlement Finality and Failure Handling4 vs 3
Rain leads on
- Where the Platform's Float Legally Sits5 vs 4
Largest single reason dLocal is ahead: measured data (+3.6 display points).Scenario cost: Rain has no verified pricing for this scenario.
Zero Hash#4 of 7 · score 73 · 6.0 points ahead
dLocal leads on
- Published Wholesale Price5 vs 4
Zero Hash leads on
- Whose Licence the Platform Operates Under8 vs 5
- Settlement Finality and Failure Handling6 vs 4
Largest single reason Zero Hash is ahead: published criteria (+5.7 display points).Scenario cost: Zero Hash has no verified pricing for this scenario.
Against the leader
80 vs 67 · gap 13.0Why BVNK ranks above dLocal
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 13.0 to within rounding.
DimensionThisBVNKGap share
Availability · 23% weight · constant here14.014.0same
Published criteria · 35% weight10.815.8−13.0, worse
Friction · 12% weight · constant here2.72.7same
Trust record · 9% weight · constant here3.23.2same
Measured data · 21% weight9.79.7same
Published criterionThisBVNKPoints
Where the Platform's Float Legally Sits · w3045−0.96, worse
Published Wholesale Price · w2556−0.80, worse
Whose Licence the Platform Operates Under · w2558−2.40, worse
Settlement Finality and Failure Handling · w2048−2.56, worse
Net6780−13.0
Your scenario
dLocal 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.RobustnessHoldsrank #5 across every one-point re-run
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 4 · 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 4 · 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 (dLocal 4/10): whoever holds the assets loses or withholds them.Scored by Where the Platform's Float Legally Sits · 30%
- Regulatory failure (dLocal 5/10): no licence where you are, or a forced market exit.Scored by Whose Licence the Platform Operates Under · 25%
- Execution failure (dLocal 4/10): 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 RATE CARD IS PUBLISHED ON ANY dLocal SURFACE (re-checked 28 September 2026). The redesigned Payouts page (https://
www .dlocal .com /our-solution /payouts /, fetched 28 September 2026, HTTP 200) now answers "How are fees and pricing structured for dLocal Payouts?" with fee types and no figures: "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. Our team will propose a tailored structure based on your countries, volumes, methods, risk profile, and service requirements." The longer fee-type list formerly on that page survives on https:// www .dlocal .com /our-solution /dlocal-for-platforms / (fetched 28 September 2026): "For international payments with dLocal, fees include a percentage of each transaction, a spread on exchange rates, and possible interest on installment payments. Additional costs may include a chargeback protection fee, advanced settlement fees for shorter settlement periods, and a fee for settlements under a certain amount. There are also setup and monthly account management fees, as well as negotiated minimum fees based on expected transaction volumes." The stablecoin product page (https:// www .dlocal .com /payments /stablecoins /) publishes only adjectives: "Transparent, competitive costs" and "Transparent rates". The docs confirm an FX markup exists but never size it: "It includes dLocal's markup and can be valid for an agreed amount of time." (https:// docs .dlocal .com /docs /quotes-configuration-payouts-v 3, updatedAt 3 March 2026). https:// www .dlocal .com /pricing / returns HTTP 404 and the page sitemap (https:// www .dlocal .com /sitemaps /page-sitemap .xml, 22 URLs) has no pricing, fees, rates or costs URL. NOT SCORED AS A PRICE: the Quotes doc's illustrative USD to COP API response showing "fee_amount": 1.6 on a "source_amount": 100 is integration example JSON, not a rate card.dLocal — official pricing page ↗ · 28 September 2026 - Prices published in
- USDdLocal — official pricing page ↗ · 28 September 2026
- Licences held
- United Kingdom: Registration / authorisation, European Union: Registration / authorisation, United States: Registration / authorisation
- Compliance level
- full
- Regulatory note
- PUBLISHED BY dLocal (Regulatory Disclosure, https://
www .dlocal .com /legal /regulatory-disclosure /, HTTP 200, re-fetched 13 August 2026) AND REGISTER RESULTS RE-ATTEMPTED INDEPENDENTLY 2026-08-13: (1) Dlocal Ltd, Malta — "Dlocal Ltd is authorised and regulated by the MFSA as Electronic Money Issuer (EMI) and Payments Institution (PI)... The company currently operates under its Payments Institution …" - Supported chains
- USDC on Ethereum (ERC20), USDC on Polygon, USDC on BNB Smart Chain (BEP20), USDC on Solana, USDC on Arbitrum, USDC on Base, USDT on Ethereum (ERC20), USDT on Tron (TRC20), USDT on BNB Smart Chain (BEP20), USDT on Polygon
- 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 dLocal: 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 67, #5 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:dlocal_stablecoin:2026.10.18:b07adeeb0de1
Are you dLocal? 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.