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Onboarding for an institution is mostly coordination: your custodian does most of the infrastructure work, and you confirm readiness on your side (compliance reference, counterparty whitelist, optional backend deployment).

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Onboarding checklist

1

Receive credentials

Musubi provisions:
  • Canton Party ID — your identity on the settlement network
  • JWT signing credentials — for API and console authentication
  • Network connectivity details — TLS certificates and endpoint references (if you run your own backend)
2

Confirm custodian readiness

Check with your custodian that they have:
  • Connected their node to the settlement network
  • Set up your institutional custody account
  • Whitelisted the Musubi settlement address
  • Sufficient stablecoin balance for your expected volumes
Your custodian’s completion of the Custodian onboarding is a prerequisite — settlement can’t fire without their co-signature and liquidity.
3

KYC/AML reference

Obtain a KYC/AML clearance reference (UUID) from your compliance team. This references your existing KYC verification of your own customers / counterparties and is required on every order you create. The reference is recorded on the FXOrder; the actual KYC data stays in your existing system.
4

(Optional) Deploy your backend

Institutions with custom treasury automation may deploy their own Musubi backend:
  • Configure with your Party ID and JWT credentials
  • Connect to your PostgreSQL instance
  • Establish TLS connectivity to the settlement network
Most institutions skip this step and use the console + statements path, coordinating through their custodian’s infrastructure. Only stand up your own backend if you need Programmatic Access.
5

Connectivity test

  • GET /health — backend is running and connected to the network
  • GET /whoami — confirms your Party ID and role
  • Create a test order on testnet and verify it reaches SETTLED
6

Counterparty onboarding

For each counterparty institution you’ll transact with, record their Party ID + their custodian’s Party ID in your existing counterparty directory. These reference fields go on every FXOrder you create.

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Testnet validation

Scenarios to run before production:
  1. Happy path — create order → receive quote → accept → verify SETTLED status
  2. Cost guard — set source_amount_max below the expected quoted amount → verify SLIPPAGE rejection
  3. Expiry — create order with short expires_at → no quotes accepted → verify EXPIRED
  4. Cancellation — create order → cancel before quote acceptance → verify cancellation
  5. Reconciliation — match transaction_hash, settled_at, and amounts across your accounting system
  6. Statement export — once you’ve settled a few testnet orders, run your first statement download and confirm the fields line up with your general ledger

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Next steps