Crypto-to-Crypto Conversions
Crypto conversions let you exchange one cryptocurrency for another without touching fiat (e.g., USDC on Ethereum → USDT on Tron). Type:conversion
Conversion transactions are for converting between different assets or networks within your own Conduit account custody, not for sending crypto to external wallets or other parties.
Crypto conversions cover asset or network changes (e.g., USDC→USDT or Ethereum→Tron). To send crypto on-chain to an external wallet, use a withdrawal.
When to use
- Optimize transaction costs by moving to lower-fee networks
- Match recipient preferences for a specific stablecoin or network
- Rebalance treasury across assets or networks
- Prepare funds for international payments on specific networks
Key fields
- Source account ID format:
acct_... - Source asset and network e.g., USDC on Ethereum
- Amount to convert
- Destination account ID format:
acct_... - Destination asset and network e.g., USDT on Tron
- Quote — locks the conversion rate until expiration
Key terms
| Term | Definition |
|---|---|
| Conversion transaction | Direct crypto-to-crypto exchange on Conduit platform |
| Source asset | The cryptocurrency you’re converting from (e.g., USDC on Ethereum) |
| Destination asset | The cryptocurrency you’re converting to (e.g., USDT on Tron) |
| Network/chain | The blockchain network (Ethereum, Tron, Solana, Polygon, etc.) |
| Quote | Locked-in conversion rate with expiration time |
How crypto conversions work
Here’s the complete workflow for converting cryptocurrencies: Timeline: typically completes within minutesUnderstanding stablecoins and networks
Common stablecoins
USDC (USD Coin)- Issued by Circle
- 1:1 backed by US dollars
- Monthly third-party audits by Grant Thornton
- Available on: Ethereum (ERC-20), Tron (TRC-20), Solana (SPL), Polygon
- Issued by Tether
- Most widely adopted stablecoin globally
- 1:1 backed by US dollar reserves
- Available on: Ethereum (ERC-20), Tron (TRC-20), Solana (SPL)
Blockchain networks and transaction costs
| Network | Token Standard | Typical Fee | Settlement Time | Best For |
|---|---|---|---|---|
| Ethereum | ERC-20 | 50+ | 1-5 minutes | Large transactions, maximum security |
| Tron | TRC-20 | < $1 | 1-3 minutes | Frequent payments, cost efficiency |
| Solana | SPL | < $0.01 | Seconds | High-frequency, ultra-low cost |
| Polygon | ERC-20 | < $0.10 | 1-2 minutes | Ethereum compatibility, low fees |
Understanding true sender and true recipient
Why this matters
Compliance requires visibility into the actual parties involved in each transaction, not just intermediaries. Misidentification can result in:- Payment delays or rejections
- Compliance review failures
- Risk of limited access or account offboarding
True sender definition
The true sender is the business that provides the funds for a transaction. If you’re acting on behalf of a customer:- The customer is the true sender — not your business, even if funds move through your accounts
- Example: Acme Corp pays a vendor via your platform → Acme Corp is the true sender
- Your company is the true sender
- Example: You pay a vendor directly → Your company is the true sender
True recipient definition
The true recipient is the person or business that ultimately receives and benefits from the funds. If you’re paying on behalf of a customer:- The final beneficiary is the true recipient — not your business
- Example: Acme Corp pays a contractor via your platform → The contractor is the true recipient
- The vendor or account receiving funds is the true recipient
- Example: You pay your supplier → The supplier is the true recipient
These may not always appear as explicit API fields but remain critical for compliance.