> ## Documentation Index > Fetch the complete documentation index at: https://musubinetwork.com/llms.txt > Use this file to discover all available pages before exploring further. # Institution Overview > How Musubi fits into your institutional settlement workflow. Musubi is a cross-border stablecoin settlement network. It connects your institution to counterparties in other jurisdictions and settles FX trades atomically — both legs of the swap complete in a single transaction, or neither does. No intermediary banks, no settlement delays, no counterparty risk. ## How This Compares to What You Know | | Correspondent Banking | Musubi | | -------------------------- | ------------------------------------------------ | -------------------------------------------------------------- | | **Settlement time** | 1-3 business days | \~15 seconds | | **Counterparty risk** | Present during settlement window (Herstatt risk) | Eliminated — atomic DvP, both legs or neither | | **Intermediaries** | 2-4 correspondent banks | Direct — your custodian to receiver's custodian | | **Transparency** | Limited visibility until confirmation | Real-time status from order to settlement | | **FX execution** | Bank's internal rate | Competitive RFQ — market makers bid, you select best execution | | **Settlement proof** | SWIFT confirmation messages | Single cryptographic hash covering all settlement legs | | **Nostro/vostro accounts** | Required at each correspondent | Not needed — custodians hold stablecoins directly | ## 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: How a trade works, step by step, in institutional terms. Your custodian relationship, dual authorization, and Musubi's role. Authentication, data isolation, privacy model, and intent signing. Onboard + Console + Statements, with a programmatic access path for TMS/ERP integration. Endpoints, request/response examples, order lifecycle, and events.