A Payout in Bluerails represents an outbound transaction – funds flowing out from one of your Accounts to an external destination. Payouts allow you to send funds globally, either directly as cryptocurrency or converted into fiat currency delivered to a bank account.Think of Payouts as the mechanism for initiating withdrawals or sending payments from your Bluerails Account balances to the outside world.
If your Bluerails Account holds a balance of a specific cryptocurrency (e.g., USDC, ETH), you can initiate a payout directly to an external crypto address on the corresponding blockchain.
You specify the source Account, the crypto asset and amount, and the destination wallet address.
Bluerails processes the request, constructs the blockchain transaction, and broadcasts it to the network.
The Payout record tracks the transaction details and its status on the blockchain.
You can send funds to traditional bank accounts globally, even if your Bluerails Account primarily holds stablecoins like USDC.
You specify the source Account (typically holding USDC), the desired fiat currency and amount to be delivered (e.g., 1000 EUR), and the recipient’s bank account details.
Bluerails handles the conversion from your source crypto asset (e.g., USDC) to the target fiat currency (e.g., EUR) based on a provided quote.
Bluerails then manages the delivery of the fiat funds through appropriate banking rails (e.g., SEPA, SWIFT, local ACH) to the recipient’s bank account.
The Payout record tracks the crypto amount debited, the conversion details, the fiat amount sent, and the delivery status.
Bluerails Account(USDC Balance)
Crypto-to-Fiat(USDC → EUR)
Fiat Delivery(e.g., SEPA)
External Bank Account
Fiat Payouts often involve obtaining a quote first (/transfer/quote endpoint) to lock in an exchange rate before executing the payout (/transfer/quote/{quote_id} endpoint).