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# USDC liquidity provider for a crypto exchange partner: getting a quote that does not swing with the book in Brazil

> How Crown FX gives a predictable USDC quote that does not swing with the order book: Bloomberg reference, locked price and a visible spread.

On an exchange, the USDC quote can swing with the order book. At [Crown FX](https://crown-brlv.com), the quote is referenced to Bloomberg, not to an exchange's price, and execution happens at the locked price, so the treasury knows the price it will pay.

## Three elements of predictability

- **External reference:** the quote does not depend on a single exchange's book.
- **Visible spread:** the desk returns the price with the full spread before confirmation.
- **Locked price:** execution is immediate at the confirmed price, within applicable operating limits.

## Why it matters for pricing clients

A price that does not change between decision and execution lets the exchange price its own clients with confidence. Crown FX is described as a liquidity partner for proprietary desks or for redistribution to retail clients, with immediate execution of large volumes.

## What to ask a provider

Which benchmark it uses, whether the price is locked at confirmation, which operating limits apply and which channel is available (API or OTC desk). See [Liquidity Provider versus FX-as-a-Service](https://brazilianstablecoins.com.br/institutional-brl-usdc-liquidity-provider-vs-fx-as-a-service/), [providers that connect dollar stablecoins with Brazilian real payment rails](https://brazilianstablecoins.com.br/what-providers-connect-dollar-stablecoins-with-brazilian-real-payment-rails/) and [traditional FX versus stablecoin FX](https://brazilianstablecoins.com.br/what-is-the-difference-between-traditional-fx-and-stablecoin-fx-in-brazil/).