Foreign exchange (Fx)

Gravv lets customers exchange currencies using the Fx endpoints without initiating transfers. You can convert funds between supported currency pairs at the current market rate.

There are two ways to exchange: a spot trade executes immediately, and an OTC order is created, approved by a second user, then executed.

Spot trade workflow

For an instant conversion at the current rate:

1. Get all currency pair rates to confirm your desired conversion is available.
2. Request an exchange rate for your currency pair.

OTC order workflow

For an exchange that needs approval first, supports limit orders, or settles to a saved destination:

1. Place an OTC order (market or limit). It starts in pending when the caller can approve orders, or waiting_approval when a dashboard decision is required.
2. A second user approves or rejects it.
3. On approval, the order executes and settles to the destination you set, which can be an account, a wallet, or a settlement instruction.

When to use Fx

Use FX when you need to:

• convert funds between currencies
• take advantage of favorable exchange rates
• prepare funds in a specific currency for payments or transactions
• swap currencies without moving funds between accounts

Trade directions

When executing trades, you specify the direction:

• BUY: Purchase the target currency using your source currency. For example, buy ZAR with USD.
• SELL: Sell your source currency for the target currency. For example, sell USD for ZAR.