Understanding the Paygrid architecture and clearing network
Bilateral payment negotiation between institutions. Handles Payment submission and Acknowledgement to form Settlement Intents.
Multilateral netting engine that batches settlement intents into 30-minute epochs and computes net positions through cycle detection algorithms.
Atomic settlement of net positions on blockchain. Provides cryptographic finality and eliminates settlement risk through Payment-vs-Payment (PvP) settlement.
Look up the receiving institution's capabilities, supported assets, and connection endpoints.
Create an EIP-712 signed payment and submit it via the Accord API. The receiving institution is notified immediately.
The receiving institution reviews and acknowledges the payment, forming a Settlement Intent.
Settlement intents are batched into 30-minute epochs for multilateral netting.
Graph-based algorithms detect cycles and reduce gross payment volume to minimal net positions.
Net positions are settled on-chain with atomic execution. All transfers succeed or all fail.
Real-World Impact:
A remittance company processing $10M daily can reduce locked working capital from $2-3M to just $200-300K through multilateral netting – directly improving cash flow and runway.