How FX Conversion works - PIK Documentation

PIK’s FX Conversion engine lets you convert balances between supported currencies directly within your PIK wallet — at institutional-grade rates, 24 hours a day, 365 days a year. No external exchange needed.

Conversion Methods Compared

Method	How It Works	Rate	Best For
Rates (live)	Converts immediately at the current market rate	Live at time of submission	High-volume automated workflows
Quotes (firm)	Request a rate first; rate is locked for a validity window	Locked — guaranteed for the validity period	Large amounts, customer-facing confirmations, approvals

The exact quote validity window is shown in the expires_at field returned when a quote is created.

Rate Quality

PIK sources FX rates from institutional-grade liquidity with access to interbank pricing. For AUD/USD specifically, PIK offers highly competitive rates — tighter spreads than retail banks or consumer FX apps. PIK applies a fixed spread on the interbank mid-rate. No variable commissions, no hidden markups.

Supported Conversion Pairs

From	To	Type
AUD	USD	Fiat-to-fiat
USD	AUD	Fiat-to-fiat
AUD	HKD	Fiat-to-fiat
AUD	SGD	Fiat-to-fiat
SGD	AUD	Fiat-to-fiat
HKD	AUD	Fiat-to-fiat
USDT	AUD	On-ramp
USDT	USD	On-ramp
USDC	AUD	On-ramp
USDC	USD	On-ramp
AUD	USDT	Off-ramp
AUD	USDC	Off-ramp
USD	USDT	Off-ramp
USD	USDC	Off-ramp
USDT	HKD	Cross
USDT	SGD	Cross

For the full live pair list and current minimums:

GET /api/v1/fx/pairs

On-Ramp and Off-Ramp

Direction	sell_currency	buy_currency	Use Case
On-ramp	USDT or USDC	AUD or USD	Received crypto, want fiat
Off-ramp	AUD or USD	USDT or USDC	Have fiat, want crypto for withdrawal

Additional Supported Conversion Pairs

In addition to USDT/USDC on-ramp and off-ramp, PIK supports direct conversion between fiat currencies for wallet management and payout preparation:

From	To	Common Use Case
AUD	USD	Convert AUD receipts to USD for international payouts
USD	AUD	Convert USD holdings to AUD for Australian operations
AUD	EUR	Prepare EUR payout from AUD balance
AUD	GBP	Prepare GBP payout from AUD balance
AUD	HKD	Prepare HKD payout from AUD balance
AUD	SGD	Prepare SGD payout from AUD balance
USDT	USD	Convert stablecoin to USD fiat
USDC	USD	Convert stablecoin to USD fiat

For the complete and current pair list including minimums, call GET /api/v1/fx/pairs or see Supported Currency Pairs.

End-to-End Cross-Border Flow

Crypto to fiat: Fiat to crypto:

Key Characteristics

Property	Detail
Availability	24/7 — no cut-off times or settlement windows
Pricing	Fixed spread on interbank rates — no hidden fees
Settlement	Converted funds credited immediately to target currency balance
Scope	Each conversion is scoped to the account making the request

​Conversion Methods Compared

​Rate Quality

​Supported Conversion Pairs

​On-Ramp and Off-Ramp

​Additional Supported Conversion Pairs

​End-to-End Cross-Border Flow

​Key Characteristics