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Quickstart

Easily convert USD to USDP in the Sandbox environment.

The workflow for converting USD to USDP can be used for any of the supported asset pairs:

tip

Paxos must enable access to the Conversion API in your Sandbox Account before you can add the scopes to a client. Contact support or your Paxos Representative for details.

1. Authenticate​

Add the conversion:read_conversion_stablecoin and conversion:write_conversion_stablecoin scopes to your Sandbox Account under the API Management setting.

Authenticate in Sandbox using the scopes. You may also need to add the funding:read_profile scope to enable funding and fetch a Profile ID to complete a conversion.

curl https://oauth.sandbox.paxos.com/oauth2/token \
-F grant_type=client_credentials \
-F client_id={paxos_clientid} \
-F client_secret={paxos_secret} \
-F scope="conversion:read_conversion_stablecoin conversion:write_conversion_stablecoin funding:read_profile"

2. Sandbox Funding​

Use Create Sandbox Deposit to fund your Sandbox Account if not already done so. Specify the Sandbox Profile (profile_id) you want the conversion to be associated with.

curl --request POST \
--location 'https://api.sandbox.paxos.com/v2/sandbox/profiles/{profile_id}/deposit' \
--header 'Authorization: Bearer {access_token}' \
--data '{
  "asset": "USD",
  "amount": "1000"
}'

3. Create a Stablecoin Conversion​

Request a conversion using Create Stablecoin Conversion. Include the following body parameters in your request to convert the source_asset of $100 USD into the target_asset of 100 USDP.

note

For Third-party integrations, you must also specify identity_id and account_id.

curl --location 'https://api.sandbox.paxos.com/v2/conversion/stablecoins' \
--header 'Content-Type: application/json' \
--header 'Authorization: Bearer {access_token}' \
--data '{
    "ref_id": "my_custom_ref_id_1",
    "profile_id": "{profile_id}",
    "amount": "100",
    "source_asset": "USD",
    "target_asset": "USDP",
}'

The StablecoinConversion object returns with "status": "CREATED", signifying the conversion request has been received but not yet completed. When a conversion is in CREATED status, the source_asset is immediately debited from the associated profile_id balance. The target_asset will not be credited until the conversion status is "status": "SETTLED".

Values for identity_id and account_id default to 00000000-0000-0000-0000-000000000000 when the fields are not part of the request.

{
    "id": "f190b163-208f-4d73-8deb-4fb8b24add00",
    "profile_id": "{profile_id}",
    "amount": "100",
    "source_asset": "USD",
    "target_asset": "USDP",
    "status": "CREATED",
    "ref_id": "my_custom_ref_id_1",
    "identity_id": "00000000-0000-0000-0000-000000000000",
    "account_id": "00000000-0000-0000-0000-000000000000",
    "created_at": "2023-10-02T23:13:10.716623354Z",
    "updated_at": "2023-10-02T23:13:10.899Z"
}

4. Monitor Conversion Status​

To retrieve the conversion status, use either Get Stablecoin Conversion or List Stablecoin Conversions.

Use the StablecoinConversion object id as a path parameter to retrieve a single conversion.

curl --location 'https://api.sandbox.paxos.com/v2/conversion/stablecoins/f190b163-208f-4d73-8deb-4fb8b24add00' \
--header 'Accept: application/json' \
--header 'Authorization: Bearer {access_token}'

The returned StablecoinConversion object is similar to the Create Stablecoin Conversion response, except it includes an additional settled_at parameter and the status value changes to SETTLED upon completion.

{
    "id": "f190b163-208f-4d73-8deb-4fb8b24add00",
    "profile_id": "{profile_id}",
    "amount": "100",
    "source_asset": "USD",
    "target_asset": "USDP",
    "status": "SETTLED",
    "ref_id": "my_custom_ref_id_1",
    "identity_id": "00000000-0000-0000-0000-000000000000",
    "account_id": "00000000-0000-0000-0000-000000000000",
    "created_at": "2023-10-02T23:13:10.716623Z",
    "updated_at": "2023-10-02T23:13:10.899Z",
    "settled_at": "2023-10-02T23:13:11.241690Z"
}

Next Steps​

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