Commercial settlement and internal ledger

BlendFi keeps an internal ledger that records, on every completed conversion, any reciprocal obligation between BlendFi and the organization generated by fees. Settlement of those obligations is off-platform, conducted in the regular commercial process, and not via API calls.

How the ledger works

On every conversion.completed (in any fee mode that generates an obligation), an entry is created atomically:

• org_funded: entry with from=org, to=blendfi, amount = org_fee_bps × source_amount, in source currency.
• customer_funded (with org_spread_bps > 0): entry with from=blendfi, to=org, amount = org_spread_bps × source_amount, in source currency.

In customer_funded with org_spread_bps = 0, no ledger entry is created: BlendFi captures the base spread as direct margin and there is no payout owed.

Currency

Entries are denominated in the source currency of the conversion: USDT for offramp, BRL for onramp. The rationale: a fee is naturally a percentage over operation volume, and offramp volume is the USDT input. Settlement may happen in another currency as commercially agreed (for example, BlendFi paying the partner in BRL for the USDT-equivalent of the ledger).

Settlement

The accumulated net is paid out at the cadence agreed in the commercial relationship (weekly, monthly, etc.). BlendFi's finance team conducts the payment or charge and marks the entries as settled.

How to audit charges

For now, the way to audit the fee on a specific conversion is to read the conversion's payload (fee_mode, org_fee_bps or blendfi_fee_bps + org_spread_bps, depending on the mode) and cross-check against source_amount to reconstruct the ledger entry amount. The API reference exposes the exact fields once published.

Next steps

• Fees model: the comparison between the two modes.
• org_funded and customer_funded: detailed mechanics of each mode.