Stablecoin payouts for ConnectPrivate preview

Stablecoin payouts let your Connect platform make payouts in stablecoins, starting with USDC. Your platform balance stays in fiat currency, while Stripe handles conversion and payout.

Onboarding

1. Make sure your Stripe account is set up as a Connect platform.
2. Email stablecoin-payouts@stripe.com to request access. Make sure to include your Stripe account ID.
3. After you hear back from us, which takes around two business days, request the feature through the Dashboard.
4. Fill out the due diligence questionnaire on the Account status page and complete the additional account requirements.
5. After we review and approve your information, you can start making stablecoin payouts. You can verify that stablecoins are supported for your platform by checking that Crypto is active in your Payment methods settings.

How it works

After you opt in to stablecoin payouts and enable the Express Dashboard, your users can link a crypto wallet with their account and set their default currency to USDC.

After a user links a crypto wallet in the Express Dashboard, 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 those funds are paid out to their linked crypto wallet instead of a bank account. When you create Transfers in USD, they automatically convert to the recipients’ preferred currency.

Limitations

Make sure stablecoin payouts support your use case before getting started.

• Currently only Connect platforms in the US can make stablecoin payouts.
• Stablecoin payouts can currently be sent only to individuals or sole proprietors in supported countries. Payouts to companies and non-profits aren’t supported yet.
• Individuals must have access to the Express Dashboard.
• You must use the Transfers API to pay out in stablecoins.