Zero Hash Liquidity Service (ZHLS)
ZHLS provides in-house liquidity via a RFQ trading protocol to connected platforms. The product is convenient and the API lift is minimal.
The liquidity pairs we support for Crypto-to-Fiat vary by environment. Please contact us if you have any questions.
Quantity Precision - Represents the smallest unit that a platform can submit on an order when providing a quantity.
Any ending zeros will be dropped from the price and quantity precision.
Digital Assets Supported
ASSET |
ENVIRONMENT |
TYPE |
QUANTITY PRECISION |
AAVE | Prod | ERC20 | 18 |
ADA | Prod | Base | 6 |
ALGO | Prod | Base | 6 |
APE.ETH | Prod | ERC20 | 18 |
AVAX | Prod | C-Chain | 18 |
BAT | Prod | ERC20 | 18 |
BCH | Prod/Cert | Base | 8 |
BTC | Prod/Cert | Base | 8 |
COMP | Prod | ERC20 | 18 |
DAI | Prod | ERC20 | 18 |
DOGE | Prod | Base | 8 |
DOT | Prod | Base | 10 |
EGLD | Prod/Cert | Base | 18 |
ENJ | Prod | ERC20 | 18 |
EOS | Prod/Cert | Base | 4 |
ETH | Prod/Cert | Base | 18 |
FTM | Prod | Base | 18 |
HBAR | Prod/Cert | ERC20 | 8 |
KNC | Prod | ERC20 | 18 |
LINK | Prod | ERC20 | 18 |
LTC | Prod/Cert | Base | 8 |
MANA | Prod | ERC20 | 18 |
MATIC | Prod/Cert | ERC20 | 18 |
MATIC.POLYGON | Prod/Cert | ERC20 | 18 |
MKR | Prod/Cert | ERC20 | 18 |
OMG | Prod | ERC20 | 18 |
PAXG | Prod | ERC20 | 18 |
SHIB | Prod | ERC20 | 18 |
SOL | Prod/Cert | Base | 9 |
UNI | Prod | ERC20 | 18 |
USDC | Prod/Cert | ERC20 | 6 |
USDC.XLM | Prod/Cert | XLM Token | 6 |
USDT | Prod | ERC20 | 6 |
WBTC | Prod | ERC20 | 8 |
XLM | Prod/Cert | Base | 7 |
XRP | Prod/Cert | Base | 6 |
ZRX | Prod | ERC20 | 18 |
XTZ | Prod/Cert | Base | 6 |
The supported fiat currencies are USD, CAD, EUR and GBP.
The supported fiat currencies must be in the account prior to exchange to prevent delayed settlement.
It's possible that some asset configurations must be made on a per-participant basis, so please communicate with a Zero Hash representative if you are getting a rejection message.
Introduction to ZHLS
Similar to how “Banking as a Service” enabled FinTechs to focus on building products, Zero Hash provides the infrastructure to clear and settle digital assets in a completely automated and regulated way. Zero Hash provides liquidity as a service, providing a “one stop shop” for settlement and liquidity services through API that enables best execution and customization.
This FAQ outlines how to incorporate ZHLS execution streamline to the Zero Hash settlement workflow.
Benefits of Using the ZHLS
Zero Hash’s liquidity provides clients the ability to source liquidity across assets through a couple of lines of code. This provides a building block to innovate and develop products within the digital asset eco-system.
In addition, since liquidity is sourced directly from Zero hash as opposed to an external party, settlement occurs instantaneously improving speed and cost since there are no network fees or on-chain confirms.
Technology
General Guidelines
- All quotes expire after 5 seconds.
- Certain configurations need to be made by the Zero Hash Client Services team. Please reach out via a shared Slack or Telegram channel to enquire about using the product.
- We currently support 3 different models (See below sections for details). Work directly with a Zero Hash representative to learn which suits your platform best:
Model |
Platform a counterparty to trades? |
Credit Check |
Notes |
Standard | Yes | Platform's Account |
|
Novated | No | Float Account |
|
Novated Deferred | No | Float Account |
|
Platform Direct | No | Platform Customer Account |
|
High Level Flow - All Models
API Documentation
Models
Standard Step-by-Step
1. Get a quote
- Send a
GET /liquidity/rfq
request. - Assume a Platform with the participant_code PLAT01 is submitting this request
- Request examples with parameters (you must enter either a quantity or total figure):
Quantity
"side":"buy",
"underlying":"BTC",
"quoted_currency":"USD",
"quantity": 1
Total
"side":"buy",
"underlying":"BTC",
"quoted_currency":"USD",
"total": 65000
2. Receive response
- Response example (applicable to both Quantity and Total example above)
{
"message": {
"request_id": "ce819fe8-b1d7-43bb-961c-e09ede0988d3",
"participant_code": "PLAT01",
"quoted_currency": "USD",
"side": "buy",
"quantity": "1",
"price": "65000",
"quote_id": "5cd07738b861c31e3bd61467BTC1Buy1568311644602",
"expire_ts": 1624314992377,
"account_group": "00SCXM",
"account_label": "general",
"underlying": "BTC"
}
}
3. Execute order
- Send a
POST /liquidity/execute
request using the quote_id from the response in step 2. - The credit check is done on the PLAT01's USD balance, 00SCXM account group.
- You will have 5 seconds before the quote expires.
- Execution example:
{
“quote_id”: “5cd07738b861c31e3bd61467BTC1Buy1568311644602"
}
4. Receive confirmation
{
“request_id:” “14f8ebb8-7530-4aa4-bef9-9d73d56313f3",
“quote”: {
“request_id”:“ce819fe8-b1d7-43bb-961c-e09ede0988d3”,
“participant_code”: “PLAT01”,
“underlying_currency”: “BTC”,
“quoted_currency”: “USD”,
“side”: “BUY”,
“quantity”: “1”,
“price”: “65000”,
“quote_id”: “5cd07738b861c31e3bd61467BTC1Buy1568311644602”,
“expire_ts”: 1568311649602,
"account_group": "00SCXM",
"account_label": "general,
},
“trade_id”: “ba97133e-ab15-4c86-86c1-86671b8420bc”,
“status”: “Completed”
}
When your trade has completed, the asset that the platform purchased will be auto-allocated to the Zero Hash Liquidity Services (00SCXM) platform, or account group. If you wish to allocate assets purchased via the liquidity stream to a separate account group, you will need to do this via the allocations page on the portal or the POST /transfers endpoint.
Novated Step-by-Step
1. Get a quote
- Send a
GET /liquidity/rfq
request - Enter your customer participant code as participant_code
- Request examples with parameters:
Quantity
"side":"buy",
"underlying":"BTC",
"quoted_currency":"USD",
"participant_code":"CUST01",
"quantity": 1
Total
"side":"buy",
"underlying":"BTC",
"quoted_currency":"USD",
"participant_code":"CUST01",
"total": 20000
2. Receive response
- obo: on-behalf-of
- Response example:
{
"message": {
"request_id": "ad476ea9-90d0-4cbb-a785-10af88889e91",
"participant_code": "PLAT01",
"quoted_currency": "USD",
"side": "buy",
"quantity": "1",
"price": "20000",
"quote_id": "51fee850-1e2e-4cf9-933e-00911052785b",
"expire_ts": 1670013576526,
"account_group": "00SCXM",
"account_label": "general",
"obo_participant": {
"participant_code": "CUST01",
"account_group": "PLAT01",
"account_label": "general"
},
"underlying": "BTC",
"asset_cost_notional": "20000"
}
}
3. Execute order
- Send a
POST /liquidity/execute
request using the quote_id from the response in step 2. - The credit check is done on the PLAT01's Float Account. This is under the 00SCXM participant code, PLAT01 account group.
- You will have 5 seconds before the quote expires.
- Execution example:
{
“quote_id”: “51fee850-1e2e-4cf9-933e-00911052785b"
}
4. Receive confirmation
{
"message": {
"request_id": "d0b02e44-6e30-48af-bf30-4961d0b2f878",
"quote": {
"request_id": "ad476ea9-90d0-4cbb-a785-10af88889e91",
"participant_code": "PLAT01",
"quoted_currency": "USD",
"side": "buy",
"quantity": "1",
"price": "20000",
"quote_id": "51fee850-1e2e-4cf9-933e-00911052785b",
"expire_ts": 1670013576526,
"account_group": "00SCXM",
"account_label": "general",
"obo_participant": {
"participant_code": "CUST01",
"account_group": "PLAT01",
"account_label": "general"
},
"underlying": "BTC",
"asset_cost_notional": "20000",
"transaction_timestamp": 1670013573726
},
"trade_id": "2d8d4215-0dcc-437f-9676-e7408faef55d",
"status": "Completed",
"trade_ids_list": [
"2d8d4215-0dcc-437f-9676-e7408faef55d"
]
}
}
Trade ID is a single trade where both the crypto and fiat legs settle immediately.
Novated Deferred Step-by-Step
1. Get a quote
- Send a
GET /liquidity/rfq
request - Enter your customer participant code as participant_code
- Request examples with parameters:
Quantity
"side":"buy",
"underlying":"BTC",
"quoted_currency":"USD",
"participant_code":"CUST01",
"quantity": 1
Total
"side":"buy",
"underlying":"BTC",
"quoted_currency":"USD",
"participant_code":"CUST01",
"total": 20000
2. Receive response
- obo: on-behalf-of
- Response example:
{
"message": {
"request_id": "bb2699bd-2806-4527-966d-c2819e5452fd",
"participant_code": "PLAT01",
"quoted_currency": "USD",
"side": "buy",
"quantity": "1",
"price": "20000",
"quote_id": "d4461760-6416-4da1-80a6-de45b6c9458b",
"expire_ts": 1670014554460,
"account_group": "00SCXM",
"account_label": "general",
"obo_participant": {
"participant_code": "CUST01",
"account_group": "PLAT01",
"account_label": "general"
},
"underlying": "BTC"
"asset_cost_notional": "20000"
}
}
3. Execute order
- Send a
POST /liquidity/execute
request using the quote_id from the response in step 2. - The credit check is done on the PLAT01's Float Account. This is under the 00SCXM participant code, PLAT01 account group.
- You will have 5 seconds before the quote expires.
- Execution example:
{
“quote_id”: “d4461760-6416-4da1-80a6-de45b6c9458b"
}
4. Receive confirmation
{
"message": {
“request_id:” “6c503408-9590-4aca-ba0a-f1fc460fa466",
“quote”: {
“request_id”:“bb2699bd-2806-4527-966d-c2819e5452fd”,
“participant_code”: “PLAT01”,
“quoted_currency”: “USD”,
“side”: “buy”,
“quantity”: “1”,
“price”: “20000”,
“quote_id”: “d4461760-6416-4da1-80a6-de45b6c9458b”,
“expire_ts”: 1670014554460,
"account_group": "00SCXM",
"account_label": "general",
"obo_participant": {
"participant_code": "CUST01",
"account_group": "PLAT01",
"account_label": "general"
},
"underlying": "BTC",
"asset_cost_notional": "20000",
"transaction_timestamp": 1670014551296
},
"trade_id": "4381f259-8dc5-410e-bb1e-131e28d19108",
"status": "Completed",
"trade_ids_list": [
“4381f259-8dc5-410e-bb1e-131e28d19108”,
"9882148b-c703-459b-b86c-ece4ffd1bb32"
]
}
}
You will receive 2 trade id's in the response. 1 is settling the crypto leg immediately into the customer account, and the other trade is reserved for the USD leg, which will settle on a T+X basis.
Platform Direct Step-by-Step
1. Get a quote
- Send a
GET /liquidity/rfq
request. - Enter your customer participant code as participant_code
- Request examples with parameters:
Quantity
"side":"buy",
"underlying":"BTC",
"quoted_currency":"USD",
"participant_code":"CUST01",
"quantity": 1
Total
"side":"buy",
"underlying":"BTC",
"quoted_currency":"USD",
"participant_code":"CUST01",
"total": 65000
2. Receive response
- obo: on-behalf-of
- Response example:
{
"message": {
"request_id": "ce819fe8-b1d7-43bb-961c-e09ede0988d3",
"participant_code": "PLAT01",
"quoted_currency": "USD",
"side": "buy",
"quantity": "1",
"price": "65000",
"quote_id": "5cd07738b861c31e3bd61467BTC1Buy1568311644602",
"expire_ts": 1624314992377,
"account_group": "00SCXM",
"account_label": "general",
"obo_participant": {
"participant_code": "CUST01",
"account_group": "PLAT01",
"account_label": "general"
},
"underlying": "BTC"
}
}
3. Execute order
- Send a
POST /liquidity/execute
request using the quote_id from the response in step 2. - The credit check is done on the CUST01's USD account. This is under the CUST01 participant code, PLAT01 account group.
- You will have 5 seconds before the quote expires.
- Execution example:
{
“quote_id”: “5cd07738b861c31e3bd61467BTC1Buy1568311644602"
}
4. Receive confirmation
{
“request_id:” “14f8ebb8-7530-4aa4-bef9-9d73d56313f3",
“quote”: {
“request_id”:“ce819fe8-b1d7-43bb-961c-e09ede0988d3”,
“participant_code”: “PLAT01”,
“underlying_currency”: “BTC”,
“quoted_currency”: “USD”,
“side”: “BUY”,
“quantity”: “1”,
“price”: “65000”,
“quote_id”: “5cd07738b861c31e3bd61467BTC1Buy1568311644602”,
“expire_ts”: 1568311649602,
"account_group": "00SCXM",
"account_label": "general",
"obo_participant": {
"participant_code": "CUST01",
"account_group": "PLAT01",
"account_label": "general"
},
“trade_id“:"ba97133e-ab15-4c86-86c1-86671b8420bc",
“status”: “Completed”
}