How This Compares to What You Know
Your Role
Sender institution: You initiate a payment — specify the amount, currency pair, and receiver. Market makers compete to offer the best FX rate. You select the best quote, your custodian authorizes it, and settlement happens automatically. Receiver institution: You are passive, like a traditional wire transfer. The first time you see anything is the settlement confirmation — stablecoins arriving in your custodian account. No pre-approval needed.Think of Musubi as a CLS-style Payment-vs-Payment (PvP) system for stablecoins. Like CLS Bank, it settles both legs simultaneously without ever taking ownership of the assets. Unlike CLS, settlement takes seconds, not hours.
Guide Structure
This guide is organized from business context to technical detail:Settlement Flow
How a trade works, step by step, in institutional terms.
Custody & Trust
Your custodian relationship, dual authorization, and Musubi’s role.
Security
Authentication, data isolation, privacy model, and intent signing.
Integration
Onboard + Console + Statements, with a programmatic access path for TMS/ERP integration.
API Reference
Endpoints, request/response examples, order lifecycle, and events.