Stripe provides US dollar stablecoin payments to wallets in over 160 markets

Stripe has opened the feature of paying stablecoins to cryptocurrency wallets for eligible American enterprises, covering more than 160 receiving markets, but enterprises in New York State are not within the scope of this public preview.

• American companies can directly send USDC or OUSD to the recipient's external encrypted wallet.
• USDC Payment is supported on 9 networks, while OUSD can be used on 4 supported chains.
• The stablecoin payment fee announced by Stripe is $0.50 per transaction, plus an additional 0.5% of the transfer amount.
• The company announced on October 16th the launch of stablecoin payment functionality covering 160 markets, which precedes recent reports on social media regarding this topic.

According to the documentation of Stripe, enterprises can use the dollars in their financial accounts or the balance of USDC to fund transfers, while the recipients receive stablecoins through supported blockchain links.

Payments usually arrive within a few minutes, but network conditions may cause delays. This service is currently listed as a public preview, and businesses located in New York State can register to receive notifications when the features are available.

Stripe announced in October that it would cover payment functions in 160 markets

The company actually introduced this international payment capability in a announcement on October 16th. This announcement was written by Stripe Money as the person in charge of the Service business, Neetika Bansal.

At that time, Stripe indicated that enterprises could directly send instant stablecoin payments to payees in 160 markets through their Dashboard, and they could also send traditional currency payments to more than 100 markets.

The announcement also mentioned that Stripe provides hosted forms and API for financial technology companies that wish to integrate payment functionality into their own products. The uses listed in the text include loan disbursement, remittance, investment withdrawal, and digital bank withdrawals.

Stripe The current documentation provides operational details, including the supported tokens, networks, and restrictions for businesses in New York State.

The announcement in October will list Global Payouts alongside Treasury and Issuing as part of a unified financial services solution. Stripe indicates that these products can share customer verification information and can work in conjunction with the stablecoin OUSD and the blockchain Tempo of Open Standard.

USDC Payment supported for 9 blockchain networks

The networks supported by USDC include Arbitrum, Avalanche C - Chain, Base, Ethereum, Optimism, Polygon, Solana, Stellar, and Tempo. Payments for OUSD can be made on Base, Ethereum, Solana, and Tempo.

Before sending funds, Stripe requires the enterprise to confirm that the recipient's wallet supports both the selected stablecoin and the selected network.

Through Dashboard, enterprises can add recipients and their wallets, select encrypted payment methods, enter the amount, and confirm the payment details before submitting.

According to the requirements of Stripe for recipients, stablecoin payments require providing an email address, name, and address. If the recipient is a business, the name provided should be the company name.

USDC and OUSD are currently available in the form of public previews for encrypted payment methods. The relevant requirements specify that the recipient countries supported are separate from the location of the sender: the sending enterprise must be located in the United States, with the exception of New York State.

For businesses in New York State, Stripe provides an option to register for access rights. The document does not specify when this option will be available in that state.

The fees for Stripe depend on the scale of payment.

According to the pricing published by Stripe, the fee for stablecoin payments is $0.50 per transaction, plus 0.5% of the amount sent out. The SWIFT wire transfer fee listed is $25.

Calculated based on this public fee structure, the cost of a payment in stablecoins of $1,000 is $5.50, while the cost for SWIFT is $25. If the amount is $10,000, the fee for paying in stablecoins would be $50.50.

These two listed payment fees are equal at $4,900. Below this amount, the stablecoin fee is lower; above this amount, the proportional billing portion will cause the stablecoin fee to exceed $25.

The above calculations only cover the payment fees mentioned in the promotion and do not include any applicable exchange fees or platform charges. The currency exchange fees listed under Stripe start at 0.5%; in addition, a platform fee of 0.05% will be charged once the total monthly payment amount across all payment methods exceeds $1 million.

Stripe has also launched an independent corporate transfer tool.

Wallet payment options are just one of the ways for businesses to transfer funds through Stripe.

As previously reported by crypto.news, Stripe launched a free enterprise instant transfer feature in October through Stripe Pay, which uses enterprise profile handles to identify recipients. Both parties using this service need to have eligible financial accounts.

In the product announcement on October 16th, Stripe also introduced another expansion related to stablecoin cards. The company stated that its card issuance business has now covered 27 countries within the European Union, expanding its global availability to over 65 countries.

Stripe indicates that there is a plan to expand coverage to 100 countries by the end of 2026. Its stablecoin card can access balances from managed wallets, unmanaged wallets, or Stripe financial accounts, and convert the funds into local currency when the cardholder makes purchases.