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Overview

Thiqwave enables stablecoin settlement for fast, transparent value transfers. Convert fiat to stablecoins, move them on-chain, and convert back to destination fiat—all in one flow. Settlement is significantly faster than traditional banking rails like SWIFT and works for both cross-border and domestic transfers.

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The settlement flow

Stablecoin settlement follows a simple pattern: Fiat → Stablecoin → On-chain Transfer → Fiat
1

Get a settlement quote

Request a quote specifying source and destination currencies. Learn the exact stablecoin amount and destination fiat you’ll receive.
2

Execute the settlement

Approve the quote and execute the settlement with source and destination details.
3

Monitor progress

Track the settlement through its lifecycle: fiat conversion, on-chain transmission, destination conversion, and final settlement.
4

Confirm completion

Receive a webhook notification when settlement completes and funds are credited.

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Getting a settlement quote

Request a quote to see the exact amounts and rates. Quotes lock in the rate and are valid for 3 minutes. 
curl -X POST "https://api.thiqwave.com/v1/quotes" \
  -H "X-API-Key: your-api-key" \
  -H "Content-Type: application/json" \
  -d '{
    "type": "settlement",
    "source_currency": "AED",
    "destination_currency": "EUR",
    "amount": 100000,
    "account_id": "acc_1234567890"
  }'

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Response

{
  "id": "quote_settlement_001",
  "type": "settlement",
  "source_currency": "AED",
  "destination_currency": "EUR",
  "source_amount": 100000,
  "stablecoin_amount": "275.00",
  "stablecoin_symbol": "USDC",
  "destination_amount": 25300,
  "total_fee": 200,
  "fx_rate": 3.94,
  "expires_at": "2026-04-08T12:03:00Z",
  "created_at": "2026-04-08T12:00:00Z"
}
The quote shows:
  • source_amount — AED you’re converting from
  • stablecoin_amount — 275.00 USDC transiting on-chain during settlement
  • destination_amount — EUR the recipient receives
  • Quotes expire after 3 minutes. Request a new quote if you need to refresh rates.

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Executing a settlement

Once you have a quote, execute the settlement with source and destination details. The settlement will proceed through automatic conversion and on-chain transmission. 
curl -X POST "https://api.thiqwave.com/v1/settlements" \
  -H "X-API-Key: your-api-key" \
  -H "Content-Type: application/json" \
  -d '{
    "quote_id": "quote_settlement_001",
    "source_account_id": "acc_1234567890",
    "destination": {
      "type": "bank_account",
      "country": "DE",
      "currency": "EUR",
      "account_holder": "John Doe",
      "account_number": "89370400440532013000",
      "bank_code": "10010010"
    },
    "metadata": {
      "transaction_id": "txn_cross_border_001"
    }
  }'

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Response

{
  "id": "settlement_xyz789",
  "quote_id": "quote_settlement_001",
  "source_account_id": "acc_1234567890",
  "source_currency": "AED",
  "source_amount": 100000,
  "destination_currency": "EUR",
  "destination_amount": 25300,
  "stablecoin": "USDC",
  "stablecoin_amount": "275.00",
  "status": "pending",
  "destination": {
    "type": "bank_account",
    "country": "DE",
    "account_holder": "John Doe",
    "account_number": "89370400440532013000"
  },
  "metadata": {
    "transaction_id": "txn_cross_border_001"
  },
  "created_at": "2026-04-08T12:00:30Z",
  "updated_at": "2026-04-08T12:00:30Z"
}

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Settlement lifecycle

Settlements progress through distinct states as they move from fiat to on-chain to destination fiat:
pending — Settlement created, waiting to begin conversion
converting — Source fiat is being converted to stablecoin
transmitting — Stablecoin is in transit on-chain
settling — Destination stablecoin is being converted to fiat
completed — Settlement finished, destination credited
failed — Settlement failed, funds returned to source

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Tracking settlement progress

Monitor settlements through webhooks. You’ll receive notifications at each stage: 
{
  "type": "settlement.converting",
  "data": {
    "id": "settlement_xyz789",
    "status": "converting",
    "updated_at": "2026-04-08T12:01:00Z"
  }
}

{
  "type": "settlement.transmitting",
  "data": {
    "id": "settlement_xyz789",
    "status": "transmitting",
    "transaction_hash": "0x1234567890abcdef",
    "updated_at": "2026-04-08T12:02:00Z"
  }
}

{
  "type": "settlement.completed",
  "data": {
    "id": "settlement_xyz789",
    "status": "completed",
    "destination_amount": 25300,
    "completed_at": "2026-04-08T12:05:00Z"
  }
}
Subscribe to all settlement events (settlement.converting, settlement.transmitting, settlement.settling, settlement.completed, settlement.failed) to build complete visibility into your cross-border flows.

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Why stablecoin settlement?

Speed — Significantly faster than SWIFT and traditional banking rails. Most settlements complete within minutes. Transparency — Track on-chain movement with transaction hashes. Verify every step of the journey. Cost efficiency — Reduced fees compared to traditional correspondent banking. Availability — Works 24/7, including weekends and holidays. No banking hours limitations. Reliability — Blockchain-based finality. Once on-chain, settlement is immutable.

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Use cases

Cross-border B2B payments — Pay vendors across different countries without managing multiple bank relationships. Marketplace settlements — Instantly settle funds from one currency zone to another as transactions complete. Salary disbursements — Pay employees across countries with transparent, auditable settlement trails. Treasury management — Move liquidity across regions quickly for optimal capital allocation.

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Error handling

If a settlement fails, funds are returned to your source account and you receive a settlement.failed webhook event.
IssueCauseRecovery
Invalid destinationBank details incorrectRequest a new quote and retry with correct details
Quote expiredMore than 3 minutes passedGet a fresh quote
Insufficient fundsSource account balance too lowFund the account and create a new settlement
Network issueOn-chain transmission delayedMonitor with the transaction hash; settlements retry automatically

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Best practices

  • Always get a quote first — Understand costs and rates before committing
  • Validate destination details — Ensure correct bank codes, account numbers, and country codes
  • Use metadata — Track settlements in your system with transaction IDs
  • Subscribe to webhooks — React in real-time to settlement progress
  • Handle failures gracefully — When settlements fail, notify users and offer retry options
  • Monitor compliance holds — Some destinations may be flagged for additional review; check webhook events

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Next steps