1:1 Stablecoin (USDT:USDC) FX Swaps Extension

Last updated: June 19, 2026

Overview

Rhino.fi can enable the ability to settle USDC and USDT swaps at a fixed 1:1 rate, subject to predefined conditions and limits.

Growth, Scale or Enterprise subscription plans can upgrade to the 1:1 Stablecoin FX Extension at an additional charge.

This feature simplifies accounting, pricing, and customer experience by eliminating minor market fluctuations between the two stablecoins.

There are two configurations for this Extension for you to choose from:

1) Standard Configuration

2) Surcharge Configuration

The 1:1 Rate Band (Guardrails)

To protect both Rhino.fi and its clients from arbitrage risk, the fixed 1:1 rate applies only within a defined market deviation range (“guardrails”).

  • Standard Configuration:

    • Guardrail: 1.0000 – 1.0005 market rate

  • Surcharge Configuration:

    • Guardrail: The guardrail can be configured individually to suit your needs, up to a maximum of 20 bps. 1.0000 – 1.0020 market rate

    • Surcharge: Between 5 bps (the standard guardrail) and your chosen guardrail (example: 20 bps):

      • The end-customer still receives the 1:1 FX rate.

      • Your company absorbs the surcharge, calculated as the Binance rate minus 5 bps. This is paid in addition to any other existing agreed fees and is typically invoiced at the end of each month.

If the live market rate remains within the upper guardrail limit

  • Swaps will settle at 1:1 for your end customers.

If the market rate moves outside of the upper guardrail limit:

  • The fixed 1:1 override will no longer apply for swaps from the discounted stablecoin to the stablecoin trading at a premium

Worked Examples:

1to1-stablecoin-fx-surcharge-v4 copy.png

Volume Limits

To maintain service integrity and prevent misuse, Rhino.fi can apply volume limits to 1:1 stablecoin swaps.

These limits help:

  • Prevent arbitrage behavior

  • Protect against concentrated abuse by individual users

  • Ensure consistent performance for all participants

Once a Client or Customer volume limit is reached, the fixed 1:1 FX rate will no longer apply.

Client-Level Global Limit

A maximum aggregate volume can be set for a client account.

This means:

  • A defined total volume can be processed at 1:1 within a given period

Per-Customer Limit

In addition to global limits, Rhino.fi can apply limits at the individual end-user level.

This is configured using a unique customer identifier provided by the client.

This ensures:

  • Individual users cannot disproportionately consume allocated 1:1 capacity

  • Fair distribution of the benefit across the client’s customer base

  • Reduced risk of systematic arbitrage

Please speak to your rhino.fi Customer Success Manager regarding this extension