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Documentation Index

Fetch the complete documentation index at: https://docs.ratiofx.com/llms.txt

Use this file to discover all available pages before exploring further.

Ratio’s Stablecoin Orchestration Layer (SOL) is regulated middleware that sits between stablecoin issuers and the businesses that need to move money. With a single API integration, the SOL abstracts local market complexity and provides end-to-end intelligent liquidity routing, optimised FX swaps, and instant cross-border settlement.

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Core components

SOL Architecture The SOL consists of six components that work together to provide end-to-end money movement.
Provides seamless, multi-partner fiat-to-stablecoin connectivity across regions. On-Ramp partners — PSPs, banks, and e-wallets — handle end-user KYC and convert fiat deposits into stablecoins that enter the SOL.
The core execution layer. The FX Engine converts between stablecoins using oracle-based pricing from institutional-grade feeds (Pyth Network), delivering near real-world FX rates with tight spreads. Unlike AMM-based DEXs, execution quality does not degrade with transaction size.
Manages stablecoin liquidity across single-sided pools — one pool per currency (USDT, IDRX, tnSGD, MYRC). The Liquidity Hub sources depth from LP deposits and coordinates automated rebalancing to ensure swap availability at all times.
Deploys idle stablecoin balances into secure yield strategies, maximising return on liquidity that isn’t actively being used for FX execution. Yield is distributed to participating LPs with real-time redemption capability.
Receives stablecoins from the FX Engine and converts them to local fiat via domestic rails — bank transfer, e-wallet, or card. Off-Ramp partners handle last-mile distribution in each market.
Standardises data exchange across partners using ISO 20022-inspired message templates for bank info, beneficiary data, and transaction confirmations — enabling reliable, interoperable settlement flows.

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End-to-end transaction flow

Transaction Flow A typical cross-border remittance through Ratio follows this path:
1

User deposits fiat

The user deposits fiat (e.g., USD) via an On-Ramp partner — bank transfer or e-wallet.
2

On-Ramp converts to stablecoin

The On-Ramp partner converts the fiat deposit to a stablecoin (e.g., USDT) and deposits it into the SOL.
3

FX Engine executes the swap

The FX Engine exchanges USDT for the destination stablecoin (e.g., IDRX) at oracle-based pricing with an institutional-grade spread.
4

Atomic settlement on Kaia

The swap settles atomically on-chain on the Kaia blockchain in under 1 second.
5

Off-Ramp converts to local fiat

The Off-Ramp partner receives the destination stablecoin (e.g., IDRX) and converts it to local fiat (IDR).
6

User receives local currency

The user receives IDR in their Indonesian bank account or e-wallet.
Total time: seconds to minutes, compared to 1–3 days via legacy rails. Total cost: single-digit basis points, compared to 3–7% via legacy rails.

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On-chain and off-chain

Ratio uses a hybrid architecture. Critical settlement and accounting logic lives on-chain on Kaia for auditability and trustlessness, while decision-making and orchestration runs off-chain for performance and flexibility.
  • Atomic swap execution and settlement
  • Liquidity pool accounting and LP token management
  • Fee collection and distribution
  • Oracle price feeds
This separation means you always receive instant, atomic settlement. Behind the scenes, the protocol manages inventory and risk asynchronously — the complexity is abstracted away from your integration.

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Explore further

Corridors

View available currency pairs, supported stablecoins, and the future roadmap

Oracle-based pricing

Learn how the FX Engine uses institutional-grade oracles for real-world rates

Liquidity and pools

Understand how single-sided pools provide reliable depth for FX execution

Atomic settlement

See how every swap settles in a single on-chain transaction with no counterparty risk