Stablecoin payouts for ConnectPrivate preview

Stablecoin payouts let your platform pay out in stablecoins, starting with USDC. You can use stablecoin payouts with your existing Connect integration to avoid managing stablecoins yourself. Your platform’s funds can remain in fiat currency, and Stripe handles converting to stablecoins and paying it out.

How it works

When you opt in to stablecoin payouts and provide your users access to the Express Dashboard, your users can link a crypto wallet with their account and set their default currency to USDC. Your users can link a crypto wallet using the Express Dashboard.

When a user links a crypto wallet, they immediately see a new USDC balance on their connected account. The USDC balance works like any other local currency balance. You can transfer funds into the balance and the funds are paid out to their linked crypto wallet instead of their bank account. When you create Transfers in USD, they automatically convert to the preferred currency of your recipients. This simplifies your integration and enables you to have a unified integration across fiat and stablecoin payouts.

Considerations

• US platform activation: Your platform must be in the US and activated. You can activate it by registering your platform, activating your account, and completing the platform profile.
• Individual recipients: Recipients paid in stablecoins must be individuals or sole proprietors. Paying companies and non-profits in stablecoins isn’t currently supported.
• Express Dashboard access: To pay an individual in stablecoins, create a connected account for them with access to the Express Dashboard. They can link a crypto wallet and choose their preferred currency in this Dashboard.
• Pay with the Transfers API: You must use the Transfers API within your integration to pay in stablecoins. Transfers to connected accounts with linked crypto wallets are converted from fiat to USDC, enabling you to pay in USDC while your platform balance stays in fiat. If you haven’t built an integration yet, you can pay in stablecoins using a no-code or programmatic integration.

Onboarding

Before you can enable Stablecoin Payouts:

1. Make sure your Stripe account has been set up as a Connect platform.

2. Email us to gain access to this preview feature. Include your Stripe account ID in the email.

3. After you hear back from us, which can take around two business days, request the feature through the Dashboard.

4. Complete additional account requirements, filling out the due diligence questionnaire on the Account status page.

5. After we review and approve your information, Stablecoin Payouts becomes available in your Payment Method settings.