Lumx vs Conduit

Which should you choose, Lumx or Conduit?

Choose Lumx if the destination is a Latin American bank account. A PSP settling Brazilian merchants needs a BRL account with agência and conta and a PIX payout with a purpose code. A payroll platform in Mexico needs a CLABE per worker and SPEI. A lender in Colombia needs PSE and Bre-B behind a COP account. Lumx documents each of these; Conduit's payouts reference documents ACH, Fedwire, RTP, FedNow, SEPA, Faster Payments, CHAPS and SWIFT, and its virtual-accounts concept documents US, SEPA, UK and SWIFT blocks only. The BRL, MXN and COP pages on conduitpay.com carry FX widgets and a PIX card marked "instant", but no API endpoint behind them is public.

Choose Conduit if your product needs a wallet your users control. Conduit's non-custodial wallets, with passkey or API-key signers, M-of-N quorums and per-wallet thresholds, are a deeper product than Lumx's custodial-only model. Choose it too for CHAPS and FedNow, for KYB guidance across 199 countries, or if you already move value over Circle Payments Network, which Conduit integrated on mainnet.

Teams that need both run Conduit for the USD, EUR and GBP accounts and the non-custodial wallet layer, and Lumx for the Latin American accounts and rails. Both settle USDC on Ethereum, Polygon and Base, so a balance moves between them on-chain.

What is Conduit?

Conduit is a B2B cross-border money-movement platform founded in 2021 by Kirill Gertman. Its marketing site is conduitpay.com; its API is documented at docs.conduit.financial. It raised a $36M Series A in May 2025 co-led by Dragonfly and Altos Ventures, with Sound Ventures, Commerce Ventures, DCG, Circle Ventures, Helios and Portage, for $53M in total funding, and reports a team of about 58. Per its docs, the platform offers named virtual accounts in USD, EUR and GBP; payouts over ACH, Fedwire, RTP, FedNow, SEPA, Faster Payments, CHAPS and SWIFT; quote-then-execute FX orders; custodial crypto wallets; a non-custodial wallet product with passkey and machine signers and M-of-N signing quorums; USDC and USDT on Ethereum, Polygon, Base, Tron, Solana and Stellar; a request-for-information workflow; and a KYB reference covering 199 countries. Its marketing pages add currency landing pages for BRL, MXN, COP, KES and nine others, use cases for Brazil and Mexico, a Braza Group partnership for BRL liquidity and an integration with Circle Payments Network. Conduit operates through two registered entities: 12835304 Canada Inc., an MSB with FINTRAC and a payment service provider with the Bank of Canada, and Conduit Technology, Inc., a FinCEN-registered MSB; its footer states it is not a bank and that banking services come from third-party partners.

What is Lumx?

Lumx is stablecoin payments infrastructure for businesses that move money between Latin America and the rest of the world: one API to collect, hold, convert, and pay out in BRL, MXN, COP, USD, EUR, and GBP or in USDC and USDT, over local rails such as PIX, SPEI, PSE, ACH, FEDWIRE, SEPA, and Faster Payments, with SWIFT and on-behalf-of payments and collections (POBO and COBO) in USD, EUR, and GBP, plus named virtual accounts, custodial wallets, and KYB/KYC built in.

Lumx was founded in 2022 in Rio de Janeiro and is backed by BTG Pactual, the largest investment bank in Latin America. Custodial wallets run in production, segregated per customer, on Ethereum, Polygon, Base and Tron, with Stellar for USDC on-ramps in BRL. In Brazil, Lumx SPSAV Ltda operates under Article 88 of Central Bank Resolution 520/2025; in the US, Lumx US OP LLC is a FinCEN-registered MSB (#31000316459619). Lumx processes more than $2B in annualized payment volume (as of September 2026). Customers include Nomad, Logcomex and Conta Simples.

How do Lumx and Conduit compare?

Model. Both sell one API for accounts, FX and payouts with KYB/KYC inside, and both issue named accounts in USD, EUR and GBP. From there the two diverge on how Latin America is reached. Conduit's documented path is a USD, EUR or GBP account, an FX order, and a SWIFT wire or an on-chain transfer; its POST /v2/payouts reference names no PIX, SPEI, PSE, Bre-B or TED, and its virtual-accounts reference has no BRL, MXN or COP block. Its marketing site says otherwise, with a PIX card, a TED card, a "Local Interoperability via Pix" use case and a December 2025 post promising accounts in 15 currencies including BRL and MXN; none of that has a public endpoint. Lumx's path is a named account in the local currency and a local rail behind it, documented and live. On the US, EU and UK rails both run, Conduit is at least as complete: it adds RTP, FedNow and CHAPS, and runs SWIFT in any correspondent currency where Lumx runs it in USD.

Custody. Both custody fiat and stablecoin balances in production. Conduit holds fiat with partner banks and crypto in custodial wallets, and separately ships a non-custodial wallet product in which the customer's signers, passkeys or API keys, hold the keys under M-of-N quorums with per-wallet thresholds, on Ethereum, Polygon, Base, Tron, Solana and Stellar. Lumx custodies USDC and USDT per customer on Ethereum, Polygon, Base and Tron, and does not offer a non-custodial mode. For a platform that wants users to control their own keys, Conduit has the product and Lumx does not; for a platform whose balance must become a PIX or SPEI payout, Lumx does and Conduit's docs do not.

Pricing and compliance. Neither publishes a rate card: Conduit prices on volume with a sandbox trial free of platform fees, Lumx charges a monthly platform fee plus usage-based per-transaction and virtual account fees with transparent FX on locked quotes and no pre-funding. On regulation the two are similar in kind: both are MSBs operating through licensed banking partners rather than as banks. Conduit is registered with FINTRAC and the Bank of Canada as a payment service provider and with FinCEN; Lumx operates under Article 88 of Central Bank Resolution 520/2025 while its VASP authorization is processed, and is a FinCEN-registered MSB, and runs EUR and GBP through banking partners. Conduit's compliance tooling is broad and explicit: a 199-country KYB matrix, Travel Rule gates, per-payment document review with an RFI workflow and a versioned restricted-country list. Lumx runs KYB/KYC with Sumsub token sharing, Chainalysis on-chain monitoring, and purpose codes and third-party relationship types on every payment. Both track SWIFT by UETR; Conduit also exposes Fedwire IMAD and OMAD and ACH trace numbers as typed fields, which is parity, not a gap on either side.

When is Lumx the better fit?

• Your payout lands in Brazil, Mexico or Colombia. PIX, SPEI, PSE and Bre-B are documented rails behind named BRL, MXN and COP accounts. Conduit's payouts API documents none of them. See USDC to BRL, USDC to MXN and USDC to COP.

• Your customers collect locally. A BRL account with agência and conta, a CLABE and a COP account in the customer's name receive from any local bank. Conduit's account blocks are US domestic, SEPA, UK domestic and SWIFT. See BRL to USDC.

• You need a quote the end user can see. Both lock a quote before executing; Lumx's quote is tied to a named local rail with a known settlement time, so the customer sees the BRL or MXN amount that will land.

• You need local reporting fields. Purpose codes and holder relationships (supplier, employee, subsidiary) are modeled on every Lumx payment, which Brazilian and Mexican banks require.

• You want the compare page to match the API. What Lumx lists here is live; the Latin American rails on Conduit's marketing site are not in its public reference.

Where does Conduit fit?

Conduit does several things Lumx does not do, and this page should say so plainly.

• Non-custodial wallets. Passkey and API-key signers, M-of-N quorums, per-wallet thresholds, signer promotion and rotation, on six chains including Solana and Stellar. Lumx is custodial only.

• US and UK rail depth. RTP, FedNow and CHAPS alongside ACH, Fedwire, SEPA and Faster Payments, and SWIFT in any correspondent currency.

• KYB coverage documentation. A 199-country reference with per-country document guidance and a coverage map spanning Latin America, Africa, Europe, North America, Asia and the Pacific.

• Compliance in flight. A request-for-information workflow as a first-class object with webhooks, and per-payment document review against invoices, contracts or purchase orders.

• Circle Payments Network. Conduit integrated CPN on mainnet and partners with Braza Group for BRL liquidity through a BRL-backed stablecoin.

• Self-serve sandbox with a trial. No sales call and no platform fees during the quickstart trial.

Can you use Lumx and Conduit together?

Yes. The split is by destination: Conduit for USD, EUR and GBP accounts, CHAPS and FedNow, and the non-custodial wallet layer; Lumx for the BRL, MXN and COP accounts and the PIX, SPEI, PSE and Bre-B payouts Conduit's API does not document. Both settle USDC on Ethereum, Polygon and Base and USDT on Ethereum, Polygon and Tron, so a balance moves between them as an on-chain transfer. Both lock quotes before executing and both send webhooks with typed statuses, so the reconciliation model is the same on each side.

How do you migrate from Conduit to Lumx?

1. Map Conduit counterparties to Lumx customers and destinations. Both run KYB for businesses and KYC for individuals. Lumx adds a holder relationship (SUPPLIER, EMPLOYEE, SUBSIDIARY and others) on third-party destinations and a purpose code on each payment; collect those fields up front.

2. Open a sandbox at dashboard.lumx.io. New accounts start in a sandbox with mock banking partners; magic numbers on taxId force approved, rejected or pending verification.

3. Add the Latin American accounts. Keep the USD, EUR and GBP named accounts you have and provision BRL, MXN and COP accounts in each customer's name.

4. Move balances out of Conduit wallets. Lumx custodial wallets are provisioned per customer on Ethereum, Polygon, Base and Tron; fund them with an on-chain transfer of USDC or USDT. Non-custodial Conduit wallets stay where they are; Lumx does not replace them.

5. Swap the quote flow. Both lock a rate before executing. On Lumx, request a quote (30 seconds free, one or five minutes for a fee), show it, and confirm within the window.

6. Subscribe to webhooks and run parallel. Send Idempotency-Key on every mutation, reconcile both ledgers for one cycle, then move production traffic. Read the docs or talk to us.