Conduit

Corridor flow (the stablecoin sandwich, B2B edition)

Conduit's core move is the classic three-leg conversion, but wired for business trade rather than consumer remittance and spanning both fiat and stablecoin rails on each side.

• Fund: a business deposits into a Conduit USD account (provisioned T+0 via API) in fiat or stablecoins (USDC/USDT/USDH).
• Bridge: value crosses the border as a USD stablecoin — the fast, cheap settlement leg that bypasses SWIFT correspondent hops.
• Payout: Conduit converts into the destination local currency and disburses on the right local rail (PIX, SPEI, SEPA Instant, FedNow/RTP, or mobile money).
• Speed: instant rails (PIX/SPEI/SEPA Instant/FedNow) settle in seconds-to-minutes; SWIFT/Fedwire are offered as fallback (0–8h).
• Claimed impact: 60,000+ settlement hours and $55M+ in fees saved for clients. [verify]

Last-mile reach (Africa via Onafriq; LatAm rails)

The defensible piece is payout reach in markets where banking rails are slow or thin. Conduit partners for last-mile rather than rebuilding each country.

• Onafriq partnership connects USDC settlement to 40+ African countries' bank accounts AND mobile-money wallets, enabling same-day payouts into multiple markets.
• Onafriq also provides collections, card issuing/processing, agent banking, and FX/treasury — broadening Conduit's African footprint.
• LatAm: native instant rails PIX (Brazil) and SPEI (Mexico); Asia expansion underway.
• African customer count grew ~80% from Q3 to Q4 2025. [verify]

Treasury & embedded USD accounts

Beyond one-off transfers, Conduit packages a treasury surface — both a no-code dashboard for finance teams and an embeddable 'Global USD API' for platforms.

• Global USD API: fintechs/enterprises embed USD accounts + payment rails into their own products and resell to business customers via the Clients/Subsidiaries model.
• No-code treasury dashboard: finance teams move money across stablecoins/USD/local currencies without writing code.
• Virtual accounts in USD plus EUR/GBP for receiving; named pay-ins to bank accounts, IBANs, and wallets.
• [verify whether Conduit pays/passes through any yield on idle USD balances — not confirmed].

Compliance & risk

As a regulated-money-movement layer in frontier corridors, compliance is core surface area, and the risk profile is FX/liquidity- and partner-driven.

• Built-in KYB/AML, sanctions screening, and transaction monitoring; per-country support tiers (Supported / Enhanced Due Diligence / Not Supported) across 100+ countries.
• Sandbox simulations (compliance, KYB, deposit) let integrators test onboarding + screening paths.
• 8 US banking partners provide redundant fiat execution; Circle backing aligns USDC liquidity.
• Key risks: emerging-market FX/liquidity volatility, last-mile partner concentration (e.g. Onafriq), and per-market licensing exposure [verify licensing posture].

Architecture

Conduit sits between US banking partners, local payout rails/partners, and the chains. A platform integrates a single REST API; Conduit provisions USD accounts (T+0), runs KYB/AML + sanctions screening, sources stablecoin liquidity, executes the cross-border stablecoin leg, and pays out via the right local rail. A 'Clients/Subsidiaries' model lets a platform onboard its own business customers (sub-accounts) under its master account — so fintechs can embed Conduit and resell USD accounts + payouts. Transaction state is delivered via webhooks. A sandbox exposes simulation endpoints (compliance, KYB, deposit) so integrators can test flows without real money.

Integration shape

Server-side REST API authenticated with API credentials (keys), plus a no-code treasury dashboard for non-developers. Typical flow: onboard a customer/counterparty (KYB), attach a payment method, request a quote, then create a transaction; subscribe to webhooks for status. OpenAPI specs are published (openapi-external.yaml). Built to be 'AI-first'/agent-friendly per their docs.

API surface

POST /accounts (Accounts)

Provision/get USD accounts and fetch deposit instructions (T+0 account creation via API). [verify exact path]

POST /clients (Clients/Subsidiaries)

Create and manage sub-accounts for a platform's own business customers; list client accounts + deposit instructions.

POST /customers (Customers)

Create a customer, attach control persons, generate a KYB link, submit for onboarding, run liveness checks.

POST /counterparties (Counterparties)

Create/list payees (recipients), attach/remove payment methods and KYC/KYB documents.

POST /quotes (Quotes)

Create a quote — locks the FX rate/route for a cross-border conversion before executing.

POST /transactions (Transactions)

Create, get, and list transactions (the actual money movement / payout). Supports attaching supporting documents.

POST /webhooks (Webhooks)

Create/manage webhook subscriptions for transaction + compliance status events.

Simulations (Sandbox)

Simulate compliance, customer KYB, and deposits to test integrations end-to-end. [verify exact paths]

Minimal integration

Quote then execute a cross-border payout (USD funding → local-currency last-mile).

const BASE = 'https://api.conduit.financial';
const headers = {
  'Authorization': `Bearer ${CONDUIT_API_KEY}`, // [verify auth scheme]
  'Content-Type': 'application/json',
};

// 1. Lock an FX rate / route for the corridor.
const quote = await fetch(`${BASE}/quotes`, {
  method: 'POST',
  headers,
  body: JSON.stringify({
    source: { currency: 'USD', amount: '10000' },   // funded in USD / stablecoin
    destination: { currency: 'BRL' },               // pay out via PIX in Brazil
    counterpartyId: 'cp_123',
  }),
}).then((r) => r.json());

// 2. Execute the transfer against the quote; track via webhook.
const txn = await fetch(`${BASE}/transactions`, {
  method: 'POST',
  headers,
  body: JSON.stringify({
    quoteId: quote.id,
    counterpartyId: 'cp_123',
    reference: 'invoice-2026-0042',
  }),
}).then((r) => r.json());

console.log(txn.id, txn.status); // poll, or rely on the webhook as source of truth

Build notes

• Treat the webhook (not the API response) as the source of truth for settlement status — last-mile payout can complete asynchronously.
• Quotes are time-bound: create a quote, then reference its id on the transaction so the FX rate is honored.
• Use the Clients/Subsidiaries model if you're a platform reselling USD accounts + payouts to your own business customers (vs. Customers/Counterparties for direct flows).
• [verify against docs.conduit.financial — exact endpoint paths, auth scheme, and request shapes; the OpenAPI spec (openapi-external.yaml) is the authoritative reference].