Statuses

Understand Conversion API status workflows.

There are three conversion statuses:

• CREATED: The conversion has been submitted successfully but has not yet settled.
• SETTLED: The conversion has been completed.
• CANCELLED: The conversion was stopped using the cancel endpoint for the pending conversion.

When a conversion is in CREATED status, the source_asset (for example, fiat for acquiring stablecoin) will be debited from the profile_id balance. The target_asset (for example, USDP for acquiring stablecoin) will not be credited until the order has SETTLED.

Recommendations

• Build a pending conversion settlement workflow for edge cases where the conversion does not settle immediately. This is especially important for subledgered customers, where the user will be unable to sell or transfer the assets until the conversion has settled and the asset has been credited to their Profile.
• Log the transaction details from each conversion in a database.
• Cache Profile balances. Balances should be updated once there has been a change to the Profile balance (for example, after a conversion) and then perform a reconciliation to confirm the updated balance matches the client's internal calculation.
• Create a polling workflow to query the results in ascending order. Keep track of the created_at timestamp of the most recent conversion in the paged results.

✉️ Question? Contact us:
Crypto Brokerage Support | Commodities Settlement Support | Help Desk

📃 Check out our Changelog.