Currency Exchange Rates
Quinvy supports multi-currency invoicing by keeping track of the latest exchange rates for both fiat currencies and select cryptocurrencies.
Automated Daily Synchronization
Section titled “Automated Daily Synchronization”Our system automatically syncs currency rates every day at midnight (UTC+0). This ensures that when you create an invoice or view analytics, the conversions reflect recent market conditions.
The synchronization process handles two types of currencies:
1. Fiat Currencies
Section titled “1. Fiat Currencies”For traditional fiat currencies (like EUR, GBP, JPY, etc.), Quinvy integrates with trusted global financial data providers.
- The base currency used for all internal rate calculations is USD.
- We automatically fetch the latest exchange rate indicating how much of a target fiat currency equals 1 USD.
2. Cryptocurrencies
Section titled “2. Cryptocurrencies”For stablecoins and cryptocurrencies, Quinvy fetches real-time data from leading cryptocurrency market trackers.
- Currently supported cryptocurrencies are Tether (USDT) and USD Coin (USDC).
- The system automatically converts market values into our standard base rate before saving it to your workspace.
Reliable Performance
Section titled “Reliable Performance”The synced rates are securely stored directly in our database. This allows the platform to quickly access exchange rates without needing to load external services every time you view an invoice. This ensures fast performance, consistent rate locking for your active invoices, and high reliability.