{"templateId":"markdown","sharedDataIds":{"sidebar":"sidebar-sidebars.yaml"},"props":{"metadata":{"markdoc":{"tagList":[]},"type":"markdown"},"seo":{"title":"Working with Currencies","description":"Tilia Wallet Developer Documentation","siteUrl":"https://thunes-tilia-docs.redocly.app/","llmstxt":{"hide":false,"sections":[{"title":"Table of contents","includeFiles":["**/*"],"excludeFiles":[]}],"excludeFiles":[]}},"dynamicMarkdocComponents":[],"compilationErrors":[],"ast":{"$$mdtype":"Tag","name":"article","attributes":{},"children":[{"$$mdtype":"Tag","name":"Heading","attributes":{"level":1,"id":"working-with-currencies","__idx":0},"children":["Working with Currencies"]},{"$$mdtype":"Tag","name":"p","attributes":{},"children":["Tilia supports transactions in two types of currencies: fiat currency and virtual tokens."]},{"$$mdtype":"Tag","name":"p","attributes":{},"children":[{"$$mdtype":"Tag","name":"strong","attributes":{},"children":["Fiat currency"]}," is a form of legal tender whose value is backed by the government that issued it. The U.S. dollar is an example of fiat currency."," ",{"$$mdtype":"Tag","name":"strong","attributes":{},"children":["Virtual tokens"]}," are a type of digital currency used and accepted among the members of a specific virtual community."]},{"$$mdtype":"Tag","name":"p","attributes":{},"children":["Payments and payouts represent discrete currency exchanges. The value of these exchanges is determined by the combination of:"]},{"$$mdtype":"Tag","name":"ol","attributes":{},"children":[{"$$mdtype":"Tag","name":"li","attributes":{},"children":["a ",{"$$mdtype":"Tag","name":"code","attributes":{},"children":["currency"]}," field indicating the type of currency, which may be either a fiat currency (in ISO 4217 format) or virtual tokens"]},{"$$mdtype":"Tag","name":"li","attributes":{},"children":["an ",{"$$mdtype":"Tag","name":"code","attributes":{},"children":["amount"]}," field, expressed in the smallest denomination of the specified currency. For example, when the currency is USD, the amount is provided in cents."]}]},{"$$mdtype":"Tag","name":"p","attributes":{},"children":["Currency amounts can be set as low as ",{"$$mdtype":"Tag","name":"code","attributes":{},"children":["1"]},"."]},{"$$mdtype":"Tag","name":"p","attributes":{},"children":["Tilia will work with you to configure your environment to support your specific currency requirements."]},{"$$mdtype":"Tag","name":"Heading","attributes":{"level":2,"id":"specifying-decimal-based-currency-amounts","__idx":1},"children":["Specifying decimal-based currency amounts"]},{"$$mdtype":"Tag","name":"p","attributes":{},"children":["The example below represents $5.00 USD (500 cents):"]},{"$$mdtype":"Tag","name":"CodeBlock","attributes":{"header":{"controls":{"copy":{}}},"source":"  \"amount\": 500,\n  \"currency\": \"USD\"\n  \n"},"children":[]},{"$$mdtype":"Tag","name":"p","attributes":{},"children":["The example below represents an amount of $0.50 USD (50 cents):"]},{"$$mdtype":"Tag","name":"CodeBlock","attributes":{"header":{"controls":{"copy":{}}},"source":"  \"amount\": 50,\n  \"currency_code\": \"USD\"\n"},"children":[]},{"$$mdtype":"Tag","name":"Heading","attributes":{"level":2,"id":"specifying-zero-decimal-currency-amounts","__idx":2},"children":["Specifying zero-decimal currency amounts"]},{"$$mdtype":"Tag","name":"p","attributes":{},"children":["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:"]},{"$$mdtype":"Tag","name":"CodeBlock","attributes":{"header":{"controls":{"copy":{}}},"source":"  \"amount\": 5,\n  \"currency_code\": \"JPY\"\n"},"children":[]}]},"headings":[{"value":"Working with Currencies","id":"working-with-currencies","depth":1},{"value":"Specifying decimal-based currency amounts","id":"specifying-decimal-based-currency-amounts","depth":2},{"value":"Specifying zero-decimal currency amounts","id":"specifying-zero-decimal-currency-amounts","depth":2}],"frontmatter":{"seo":{"title":"Working with Currencies"}},"lastModified":"2021-10-30T20:08:51.000Z","pagePropGetterError":{"message":"","name":""}},"slug":"/core-concepts/working-with-currencies","userData":{"isAuthenticated":false,"teams":["anonymous"]},"isPublic":true}