Rates demystified: How OKLink sources FX rates to determine fees

Among the most frequently asked questions we receive is one about how we source the mid-market rates used in our fee calculation. Here’s everything you need to know about where we source our mid-market FX rates from and how our fees are determined as a % premium over the FX rate.

1. We use real-time mid-market rates from Currencylayer and OKCoin

As we serve many transfer companies on OKLink network, we understand it is vital to maintain a neutral FX rate which is reliable and fair for all. OKLink uses the mid-market rates as provided real-time from the following vendors:

  • Fiat currency exchange rates are from Currencylayer, a leading exchange rates provider used by companies globally like FedEx and Lyft. We decided to use Currencylayer after extensive research that proves it to be one of the most reliable and affordable solutions for financial data via an easy to use interface.
  • BTC/USD exchange rates are from OKCoin, one of the largest exchanges in the world for BTC/USD trading.

Upon making your transaction on OKLink,

  • Rates are determined at the time when the transfer is initiated on the web or API. When you initiate the money transfer on our web or API interface, the FX rates are determined instantly. Because the mid-market rate we obtain is on a real-time basis, the determined rate at the time of your order initiation is the interbank rate used in the FX market at that moment.
  • The payout amount in local currency will be locked-in for 30 minutes. The FX rate that was determined at the time you initiated your transfer on OKLink will be locked in for 30 minutes. During this time, you will be able to double confirm your transfer details before submitting your order.

2. Our fee is then determined as a % premium over the FX mid-market rate

Let’s say you would like to send 1,000 HKD to South Korea and are using OK Dollars (OKD) as your method of transfer. We will calculate exact amount of OKD’s needed for you to make this transaction, and show the calculation breakdown for you. Our pricing is determined as a % premium over the mid-market FX rate.


Read here for how OKLink makes US$100 million of transfers free for global remittance companies.

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