How FX Conversion works

How PIK’s Transactional FX engine works, what rates you get, how on-ramp and off-ramp work, and the end-to-end cross-border use case.

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 need to move funds to an external exchange. All conversion happens inside PIK.

Conversion Methods Compared

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

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 (crypto to fiat)
USDT	USD	On-ramp (crypto to fiat)
USDC	AUD	On-ramp (crypto to fiat)
USDC	USD	On-ramp (crypto to fiat)
AUD	USDT	Off-ramp (fiat to crypto)
AUD	USDC	Off-ramp (fiat to crypto)
USD	USDT	Off-ramp (fiat to crypto)
USD	USDC	Off-ramp (fiat to crypto)

For the full pair list and current minimums:

GET /api/v1/fx/pairs

On-Ramp and Off-Ramp

On-ramp and off-ramp use the same FX Conversion API — just specify the sell and buy currencies.

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

End-to-End Cross-Border Flow

1. Receive USDT or USDC inbound
         ↓
2. PIK USDT/USDC wallet balance
         ↓
3. FX on-ramp → AUD or USD
         ↓
4. AUD or USD wallet balance
         ↓
5. Payout to bank account (domestic or international)

Or in reverse for off-ramp:

1. Receive AUD via VAN
         ↓
2. PIK AUD wallet balance
         ↓
3. FX off-ramp → USDT or USDC
         ↓
4. USDT/USDC wallet balance
         ↓
5. Payout to external Solana wallet

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