How Elytra works
How it works

What happens in one API call

You send a destination and an amount. What follows is a sequence of five steps, each performed by a licensed institution in its own market, each reporting its own state back to you.

Inside a transfer

Load, tokenize, cross, liquidate, pay out.

01
Load in the origin market

Funds arrive on the origin market's own domestic rails — the transfer the sender already knows how to make. Nothing has to leave the country yet, and nothing has to be sitting anywhere else.

local rails
02
Tokenize against the deposit

A licensed partner issues stablecoin one to one against the money it is holding. This is the step that turns a domestic balance into something that can move without a correspondent bank in the way.

1:1, licensed
03
Cross the corridor

The value moves to the destination market onchain. There is no chain of intermediaries to clear one hop at a time, no cut-off time to miss, and no weekend. This is the part that used to take four days.

minutes
04
Liquidate into local currency

A licensed partner in the destination market converts the stablecoin into local currency at the rate you were quoted before you committed — not a rate discovered somewhere in the middle of the journey.

rate locked
05
Pay out domestically

The beneficiary is paid on their own market's rails, into the account they already have. From their side it looks like a domestic payment, because by that point it is one.

landed 3:41
Why this is faster

Nothing in the middle to wait for.

The conventional route is slow because each hop is its own settlement, with its own hours, its own fee and its own view of only the next party in line. Remove the hops and both the days and the deductions go with them.

The days

Banking hours stop applying

The crossing does not observe cut-off times, weekends or public holidays, because there is no institution in the middle whose Monday it depends on.

The cost

One price, FX included

There is no intermediate party applying a rate you never see. The conversion happens once, at the destination, at the price you were quoted.

The capital

No pool waiting at the far end

Because the value arrives in minutes, the payout does not need to be pre-funded. The transfer itself funds the corridor.

Who does what

Licensed partners hold the funds

This is architecture, not policy. At no point in the five moves is the money in an Elytra account, because Elytra does not have one in the path.

StepWho performs itWho holds value
LoadLicensed partner, originLicensed partner
TokenizeLicensed partner, originLicensed partner
CrossOnchain settlementLicensed partner
LiquidateLicensed partner, destinationLicensed partner
Pay outLicensed partner, destinationBeneficiary
ElytraInstructs and reportsNever

See it on your corridor.

Build against the sandbox today, or tell us the route and we will price it against what you pay now.

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