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Offramps are transactions that convert stablecoins in HIFI wallets to fiat currencies. The available offramp methods vary by region due to local payment infrastructure and regulatory requirements.

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How Offramps Work

Offramps follow a simple three-step process:
  1. Create an offramp – Initiate a payment from Wallet to Account
  2. Review quote – Examine the exchange rate, fees, and quote validity period
  3. Accept quote – The fiat currency is transferred to the Account

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Quote Validity

Quotes are time-sensitive and typically expire within 10 minutes. This ensures you get current market rates and prevents stale pricing. If a quote expires before you accept it, you’ll need to create a new offramp request to get updated pricing.
All USDT-related offramps incur an additional 0.1% exchange fee, which will be reflected on your monthly invoice.

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Supported Regions

The available offramp methods vary by region due to local payment infrastructure and regulatory requirements.

Currencies

Learn about supported regions, payment methods, and currencies

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Transaction Structure

When you create an offramp, the API response includes detailed information about the transaction: 
{
  "transferType": "OFFRAMP",
  "transferDetails": {
    "id": "173c1e89-7bbd-4352-9e5d-73807681510d",
    "requestId": "201ca31d-700f-4c76-ac4b-961623acbb79",
    "createdAt": "2025-02-03T16:12:04.331652+00:00",
    "updatedAt": "2025-02-03T16:12:08.732+00:00",
    "status": "CREATED",
    "failedReason": "",
    "source": {
      /* Source */
    },
    "destination": {
      /* Destination */
    },
    "receipt": { "transactionHash": null, "uetr": null },
    "developerFee": {
      /* Developer Fee */
    },
    "quoteInformation": {
      /* Quote */
    }
  }
}

{
  "userId": "7d54a7a7-dac3-4313-8b09-27fa4b7fd1ee",
  "chain": "POLYGON_MAINNET",
  "currency": "usdc",
  "amount": 10,
  "walletAddress": "0x366B759bAA089Fa57a08edd3F2E028E86b97f8D6"
}

{
  "userId": "7d54a7a7-dac3-4313-8b09-27fa4b7fd1ee",
  "amount": 0,
  "currency": "mwk",
  "accountId": "12c1c496-8f57-41a1-8292-dbe6547791ce"
}

{
  "sendGross": {
    "amount": "10.00",
    "currency": "usdc"
  },
  "sendNet": {
    "amount": "10.00",
    "currency": "usdc"
  },
  "receiveGross": {
    "amount": "32500.00",
    "currency": "mwk"
  },
  "receiveNet": {
    "amount": "32500.00",
    "currency": "mwk"
  },
  "rate": "3250.0000",
  "expiresAt": "2025-02-03T16:22:08.668Z"
}

{
  "feeId": "9b354c37-d20d-4d94-bcd8-c852353ca406",
  "feeType": "FIX",
  "feeAmount": 0.5,
  "feePercent": 0,
  "status": "CREATED",
  "transactionHash": null,
  "failedReason": null
}

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Transaction Status

1. Transaction Creation
  • CREATED – The transaction has been created but not yet processed.
  • NOT_INITIATED – The transaction was not submitted due to a validation error.
2. Quote and Funding Phase
  • OPEN_QUOTE – A quote has been generated and is awaiting user acceptance.
  • QUOTE_FAILED – The transaction failed or expired before the quote was accepted.
  • AWAITING_FUNDS – Waiting for funds to be sent to the specified liquidation address.
3. Crypto Processing
  • CRYPTO_INITIATED – The transaction process has started for the crypto transfer.
  • CRYPTO_PENDING – The transaction is in progress and awaiting on-chain confirmation.
  • CRYPTO_PROCESSED – The crypto transaction was successfully processed.
  • CRYPTO_FAILED – The crypto transaction failed.
  • CRYPTO_RETURNED – The failed crypto transaction has been refunded to the user.
4. Fiat Processing
  • FIAT_INITIATED – The fiat payout process has started.
  • FIAT_PENDING – The fiat transaction is awaiting settlement.
  • FIAT_FAILED – The fiat transaction encountered an error and could not be completed.
  • COMPLETED – The transaction was successfully settled in fiat.

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Flow Chart

Offramp Status Flow Chart

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Quote Information

The quote includes both gross and net amounts for both sending and receiving:
  • sendGross: Total amount you’re sending in stablecoins
  • sendNet: Net amount after any fees are deducted
  • receiveGross: Total amount you’ll receive in fiat currency
  • receiveNet: Net amount you’ll actually receive
  • rate: Current exchange rate between stablecoin and fiat
  • expiresAt: When the quote expires and you’ll need a new one

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Developer Fee Types

You can monetize offramp transactions by adding a developer fee. Developer fees can be configured in two ways:
  • FIX: Fixed fee amount regardless of transaction size
  • PERCENT: Percentage-based fee calculated on the transaction amount

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Receipt Information

The receipt object contains transaction details once completed:
  • transactionHash: Blockchain transaction hash for the stablecoin transfer
  • uetr: Unique End-to-end Transaction Reference for international wire transfers

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Try it out

Convert USDC to USD

Learn how to convert stablecoins to fiat
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