> ## Documentation Index > Fetch the complete documentation index at: https://docs.thiqwave.com/llms.txt > Use this file to discover all available pages before exploring further. # How It Works > Understand Thiqwave's settlement architecture and the four patterns for moving value Thiqwave moves value from A to B. A and B can each be fiat or stablecoin. This creates four distinct settlement patterns, each with its own flow and use case. ## The Four Settlement Patterns ### 1. Fiat → Fiat (Stablecoin Settlement Rail) A business sends fiat, and the recipient receives fiat. ``` Fiat Deposit → Stablecoin Settlement → Fiat Payout ``` The fiat on both sides never touches the blockchain. Thiqwave converts the deposit to stablecoin for settlement efficiency, then converts back to fiat for disbursement. This is the "stablecoin sandwich"—blockchain settlement without blockchain exposure. This is how Thiqwave powers cross-border payments — a business in Dubai pays a supplier in London, with stablecoins handling the settlement in between. No SWIFT fees, no correspondent banking delays. ### 2. Fiat → On-chain (On-ramp) A business deposits fiat and delivers stablecoins to a customer's wallet. ``` Fiat Deposit → Stablecoin on Blockchain ``` Perfect for funding dapps, protocols, or customer wallets. The stablecoin lands directly on the blockchain network of your choice. ### 3. On-chain → Fiat (Off-ramp) A customer sends stablecoins from a blockchain wallet and receives fiat in a bank account. ``` Stablecoin on Blockchain → Fiat Payout ``` Your users cash out without touching centralized exchanges. Settlement is fast and compliant. ### 4. On-chain → On-chain (On-chain FX) Stablecoins move between different stablecoins, different blockchains, or both. ``` Stablecoin (Chain A) → Stablecoin (Chain B) ``` Stablecoins move between different stablecoins, different blockchains, or both. Thiqwave routes through the optimal combination of bridges and decentralized exchanges, providing multi-path redundancy and automatic failover. *** ## Settlement Speed Settlement timing depends on the transaction type and corridor: | Transaction Type | Typical Settlement | Notes | | --------------------------------- | ------------------- | ------------------------------------------------------------------------------------ | | On-chain → On-chain (FX/bridging) | 1–5 minutes | Depends on source and destination chain confirmation times | | Fiat → On-chain (On-ramp) | Minutes to same-day | Depends on fiat payment method and corridor; instant payment networks settle fastest | | On-chain → Fiat (Off-ramp) | Same-day to T+1 | Depends on destination bank and corridor cut-off times | | Fiat → Fiat (Stablecoin rail) | Same-day to T+1 | Combined on-ramp + settlement + off-ramp; fastest with instant payment networks | Settlement speed is optimized per corridor. Thiqwave selects the fastest available payment rail and blockchain network based on real-time conditions. *** ## One Endpoint, All Flows All four settlement patterns are accessible through a single API call: `POST /v1/transfers`. Specify a source and a destination — Thiqwave determines the optimal path automatically: * Fiat source + stablecoin destination → on-ramp * Stablecoin source + fiat destination → off-ramp * Stablecoin source + stablecoin destination (different chain) → bridge * Stablecoin source + stablecoin destination (different token) → swap * Fiat source + fiat destination → stablecoin-settled cross-border payment You don't need to choose an endpoint per flow. The Transfers API handles routing, conversion, and settlement in a single request. *** ## Non-Custodial Architecture Thiqwave never holds your funds unilaterally. All stablecoin settlement happens through non-custodial wallets: * **MPC Wallets**: Multi-Party Computation key shares mean no single entity can sign transactions * **Key Share Custody**: Your business retains one key share; Thiqwave holds others but cannot move funds alone * **You Control the Wallet**: For on-chain settlement, you can use your own wallet or a Thiqwave-managed non-custodial wallet * **No Lockup**: Stablecoins are always accessible on-chain Fiat rails operate through regulated partner accounts, not Thiqwave-controlled deposit accounts. *** ## Quote-Driven Pricing Every transaction starts with a quote. No hidden spreads, no surprise fees. ``` 1. Request Quote → 2. Receive Rate & Fees → 3. Lock for 3 Minutes → 4. Execute ``` A quote includes: * Exchange rate (if FX involved) * Fixed fees * Destination amount * 3-minute expiry window Execute your transaction within the lock window, or request a new quote. This ensures you always know the exact cost before committing. *** ## Compliance Layer Before moving any value: * **KYB (Know Your Business)**: Required once per business before the first transaction * **KYT (Know Your Transaction)**: Real-time monitoring on every transaction—blockchain analysis, sanctions screening, risk flagging All transactions are screened against international sanctions lists and monitored in real time for compliance with MENA financial regulations. *** ## Next Steps