CrudePay runs as an internal settlement and control layer for oil trade payments — combining programmable blockchain logic with traditional bank rails so your institution can execute, track, and govern payments end-to-end.
Step 1: Onboard & Configure
Onboard counterparties with KYB/KYC verification and configure payment rules, triggers, and settlement preferences for your trade operations.
Step 2: Execute & Automate
Create trade payment instructions and secure buyer commitments. Smart contracts automatically trigger seller payouts at agreed milestones.
Step 3: Settle & Audit
Buyers settle on agreed terms while maintaining an immutable audit trail with full compliance controls and payment history tracking.
Buyer and seller agree the commercial terms. CrudePay is added as the payment layer for the transaction.
The buyer starts the CrudePay checkout flow and confirms the amount, currency, counterparties, and references.
CrudePay can trigger an immediate seller payout via blockchain settlement while the buyer keeps their payment terms.
Both parties see payment status and settlement milestones with shared references for easy reconciliation.
When needed, CrudePay connects to traditional bank/fiat rails to complete transfers and reporting.
The party funding instant payout receives the underlying value/return as the buyer’s obligation settles.
CrudePay sits in the middle of the oil trade payment process: the buyer initiates a payment instruction, the seller can receive funds immediately (or near-immediately) via blockchain settlement, and the buyer still keeps their agreed payment terms. Both sides get clear status updates and references for reconciliation.