> For the complete documentation index, see [llms.txt](https://brd-digital.gitbook.io/brd-digital-docs/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://brd-digital.gitbook.io/brd-digital-docs/cross-border/fx-conversion.md).

# FX Conversion

Quoted before committed, on a stablecoin-settled corridor.

Corridors settle **in stablecoins, end to end**. What you are quoted is the rate for that stablecoin-settled operation, and the defining feature is **sequence**: you see the rate, then you decide. Correspondent banking inverts that, sending the payment out and discovering the rate on arrival.

{% hint style="info" %}
Where an operation has a US dollar leg, that leg is provided through **regulated partners**. BRD Digital's role is the stablecoin settlement between the legs.
{% endhint %}

## How quoting works

1. **Request.** Specify the operation: amount, currencies, and the rails on each side.
2. **Quote.** You receive a rate, valid for the window stated alongside it.
3. **Accept or let it lapse.** Accepting locks the rate for that operation. If the window passes, request a fresh one. Nothing is committed by asking.

## What the rate is

* **All-in for the operation.** The number you accepted is the number it executes at.
* **Specific to the operation.** Size, currencies and rails affect pricing. A quote describes one operation, not a posted price feed.

## Practical notes

* **Fund inside the flow.** Fund per the instructions and reference so the operation matches the quote that authorised it.
* **Cleared funds settle.** The operation runs on cleared money. See Settlement Flow.
* **Commercial terms** applicable to your organization are agreed at onboarding and available from the institutional desk.

## Related pages

* Settlement Flow
* [Cross-border](/brd-digital-docs/cross-border.md)


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