How FIFO works

End-to-end flow

1. 1. Client / Partner

   Institution, VASP, PSP, fintech, or approved desk user

2. 2. FIFO

   Policy, limits, KYC gates, orchestration

3. 3. RFQ

   Executable quote · TTL · fee snapshot

4. 4. Smart router

   LP selection · inventory · corridor fit

5. 5. Liquidity provider

   Prefunded desk on the FIFO network

6. 6. Settlement

   Fiat rail + digital-asset rail → reconciliation

RFQ-based execution

Request executable pricing from connected liquidity. Quotes bind rate, fees, LP routing, and TTL on the server clock — not indicative ticker screens.

Partners and approved desk users lock a quote before any fiat or crypto leg moves. Expired prints cannot be paid against.

Smart liquidity routing

Route each transaction by pricing, inventory, corridor rules, and settlement capability across the FIFO liquidity network.

The router scores LP desks on available inventory, corridor fit, and program policy. No public order book — assignment is infrastructure-side.

Multi-rail settlement

Coordinate fiat and digital-asset legs independently. Reserved balances, reconciliation, and ops review where policy requires.

UPI, Pix, card, and bank rails run on the fiat leg. Stablecoin movement runs on a separate crypto rail. Completion requires both legs to reconcile.

Unified ledger

Track available, reserved, in-flight, and settled balances across corridors. One book for routing, settlement, and reporting.

LP inventory, customer wallet, and network positions resolve from the same ledger model — the source of truth for routing and audit.

Digital assets

FIFO speaks about digital assets and stablecoins in product architecture. USDT appears under supported assets for corridors that use TRC-20 settlement today — it does not define the brand.

• Fiat and digital-asset legs never commingle in the book.
• Reserved balances lock against open quotes before settlement releases.
• Adapter layer supports simulator, testnet, and custody paths — labeled honestly in program docs.

Reconciliation

• Quote acceptance reserves inventory on the LP book.
• Fiat capture or payout confirms independently of the crypto leg.
• Crypto send or receive confirms on its rail with ledger updates.
• Order completes only when both legs reconcile or policy closes the fill.
• Ops can hold, decline, or retry without rewriting executed economics.

Liquidity network

Liquidity providers operate prefunded desks on the FIFO network. The router assigns fills based on inventory and corridor fit. LPs see only their book — scoped by lpId — with prefund, withdraw, reserved, and assigned-order views.

Next steps

Apply for desk access · Contact for integration · LP network overview