Account
How the FX spread works
Updated 5/10/2026
When you deposit BRL or withdraw to BRL, Granbay converts at a rate that includes a 0.50% spread over the mid-market USDC/BRL price. The rate displayed on the deposit/withdrawal screen IS the rate the platform applies — there's no hidden markup. The spread is locked at quote time and holds for the duration of the conversion.
Why a spread, not a flat fee
Every BRL ↔ USDC conversion has a real cost to Granbay — banking-rail fees, custody/treasury rebalancing through Bitso OTC, and operational overhead. A 0.50% spread is the simplest way to recover that cost while keeping the displayed rate predictable.
Flat fees disadvantage small users (a R$5 fee on a R$50 deposit is 10%); percentage fees scale fairly. The 0.50% spread is small enough that users moving R$100 pay R$0,50, and large enough to cover the per-transaction processing cost.
What 'locked at quote time' means
When you confirm a deposit or withdrawal, Granbay locks the exchange rate at that exact moment. The BRL amount you confirm is the BRL amount that moves — no surprise rate change between confirm and bank settlement.
If the rate moves between your quote and the bank actually moving the money, Granbay absorbs the difference. The 0.50% spread compensates the platform for taking on that quote-window risk.
- Quote shown = rate applied.
- Spread baked into the rate, not added as a separate line.
- Granbay absorbs the rate movement during the quote window.
See the breakdown
The deposit and withdrawal screens show a single combined rate by default — the rate you'll actually pay. Click 'See breakdown' to expand the mid-market rate, the spread amount, and the rate you're getting, side by side. Both views describe the same transaction; the combined view is calmer, the breakdown is more transparent.