Tilia supports transactions in two types of currencies: fiat currency and virtual tokens.
Fiat currency is a form of legal tender whose value is backed by the government that issued it. The U.S. dollar is an example of fiat currency. Virtual tokens are a type of digital currency used and accepted among the members of a specific virtual community.
Payments and payouts represent discrete currency exchanges. The value of these exchanges is determined by the combination of:
currencyfield indicating the type of currency, which may be either a fiat currency (in ISO 4217 format) or virtual tokens
amountfield, expressed in the smallest denomination of the specified currency. For example, when the currency is USD, the amount is provided in cents.
Currency amounts can be set as low as
Tilia will work with you to configure your environment to support your specific currency requirements.
The example below represents $5.00 USD (500 cents):
"amount": 500, "currency": "USD"
The example below represents an amount of $0.50 USD (50 cents):
"amount": 50, "currency_code": "USD"
Currencies such as the Japanese Yen are known as zero-decimal currencies. That is, the smallest unit of currency is ¥1 (1 JPY). The example below represents an amount of ¥5:
"amount": 5, "currency_code": "JPY"