Skip to main content
Convert currencies at the live market rate using PIK’s Rates method — the fastest and simplest way to execute FX conversions.”
PIK’s Rates method lets you convert a balance from one currency to another at the prevailing live market rate at the moment you submit the request. There is no quoting step. You call the convert endpoint and the conversion executes immediately at the best available rate. Rates is best suited to platforms and merchants who process frequent conversions, run automated workflows, or simply want the fastest path from one currency balance to another without needing to lock in a price first.

​
How Rates works

The Rates transaction flow has two steps — the second is optional: Step 1 (optional) — Retrieve the current indicative rate. Call GET /api/v1/fx/rates with the sell currency, buy currency, and amount to get the current indicative rate. This is for display or estimation purposes only — it does not lock in a price. Step 2 — Submit the conversion. Call POST /api/v1/fx/conversions with the sell currency, buy currency, amount, and conversion type set to rate. PIK executes the conversion immediately at the live rate and credits the bought currency to your wallet.

​
Transaction flow

You submit a conversion request specifying:
  • sell_currency — The currency you are converting from, for example USDT.
  • buy_currency — The currency you are converting to, for example AUD.
  • sell_amount or buy_amount — Specify either how much you want to sell or how much you want to receive. PIK calculates the other side.
  • conversion_type — Set to rate for the Rates method.
  • x-on-behalf-of header — The connected account ID if converting on behalf of a customer, or omitted if converting your platform wallet balance.
PIK debits the sell currency balance and credits the buy currency balance immediately upon confirmation.

​
Things to know

No rate lock — The rate is determined at the moment of execution. If you retrieve an indicative rate and then wait before submitting the conversion, the actual execution rate may differ. Sufficient balance required — PIK will reject the conversion if the sell currency balance is insufficient. Check the wallet balance before submitting. Minimum conversion amount — Each currency pair has a minimum conversion amount. Requests below the minimum will return a 422 validation error.