# Redemption

Authorised participants mint and redeem your stablecoin against a fiat leg through your banking partners. A request completes only when both the fiat leg and the on-chain mint or burn have cleared.

> Part of the SQRL documentation, section "SQRL Enterprise".
> Rendered page: https://docs.sqrl.tech/enterprise/redemption

Open **Issuance** › **Redemption**. The strip at the top shows open requests, net mint today and the number of authorised participants.

## The redemption queue

Each request shows its reference (for example `RDM-5012`), the participant, the type (mint or redeem), the amount, the **fiat leg** state and the **on-chain** state.

| Fiat leg | Meaning |
|---|---|
| Awaited | A mint request is waiting for the participant's payment |
| Received | The participant's payment has reached your bank |
| Payout queued | A redemption's fiat payout is queued with your bank |
| Paid out | The participant has been paid |

The on-chain state uses the same statuses as any movement: it shows how many signatures have been collected, then minted or burned.

## A mint request

1. Select **New request**, choose the participant, **Mint** and the amount.
2. When the participant's payment is **Received**, the request becomes a mint movement for the minter's quorum to sign. It carries the request's reference.
3. The request completes when the mint is confirmed.

## A redemption

1. Select **New request**, choose the participant, **Redeem** and the amount.
2. The participant's tokens are burned in a burn movement signed by the quorum.
3. The fiat payout is queued and the request completes when it is **Paid out**.

**Required permissions:** Mint tokens (`MINT_TOKENS`) or Burn tokens (`BURN_TOKENS`) for the on-chain leg.