> For the complete documentation index, see [llms.txt](https://docs.hiyield.xyz/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.hiyield.xyz/components/offchain-infrastructure.md).

# Offchain infrastructure

Our offchain infrastructure has 4 key components:

* **Stablecoin offboarding**: This is used to convert between fiat <> stablecoins.
* **Banking:** This is used to receive the fiat currency from the stablecoin offboarding provider
* **Custodian**: This is where all offchain assets are stored, including unspent fiat currency
* **Broker Dealer:** This is how we procure all offchain assets, such as equity and fixed-income products

The flow of funds typically works as follows:

1. HiYield borrows stablecoins from an onchain pool and sends to the stabelcoin offboarding partner
2. The offboarding partner wires fiat currency to our banking partner
3. Our banking partner wires fiat currency with additional instructions to a specific trust at the custodian
4. We contact the broker dealer to execute a trade
5. The trade is settled between the broker dealer and the custodian