Stablecoin payments, explained simply.
A stablecoin wallet lets you hold digital dollars and pay people across borders in moments, then turn them into local currency when you need it.
A stablecoin like USDC is a digital dollar designed to hold its value at $1. With Petl Pay, your USDC wallet is held by a licensed partner. You can receive client payments into it, pay contributors wallet to wallet for free, and withdraw to local banks in ZAR, BRL, MXN, COP, EUR and USD. Petl Pay never holds your funds.
Why businesses use stablecoins
- Payments between wallets settle in moments, any time of day.
- No chain of correspondent banks taking a cut.
- Hold a dollar balance between jobs instead of converting straight away.
- Reach contributors in places where international wires are slow or costly.
How it works with Petl Pay
- Complete business verification (KYB).
- Receive funds into your wallet, for example from a US client paying your USD account details.
- Pay contributors wallet to wallet in USDC, free.
- They withdraw to their local bank when they need it.
Example
| Step | Amount |
|---|---|
| Withdraw | 1,000.00 USDC |
| Exchange fee (0.7%) | 7.00 USDC |
| Transaction fee | 0.50 USDC |
| Total fees | 7.50 USDC (0.75%) |
| Thabo Mokoena receives | About R 16,500 in Cape Town |
Illustrative. The rate and fees can change before you withdraw.
Things to know
- Stablecoins are designed to track the dollar but aren't bank deposits.
- Blockchain transfers can't usually be reversed, so check details before you pay.
- KYC and KYB checks apply before anyone can be paid.
Frequently asked
Who holds my USDC?
Your USDC wallet is held by our licensed partner. Petl Pay never holds your funds.
Do I need to understand crypto?
No. You see balances, payments and withdrawals like any other account, with the rate and fees shown before you press pay.
What does it cost?
Free wallet to wallet. 0.4 to 1.4% end to end when money changes currency, depending on volume.
Tell us where your money needs to move.
Share where your clients pay from and where your team gets paid. We'll set you up with the right accounts and corridors.
Petl Pay never holds your funds. Payments are carried out by licensed, regulated payment partners. Petl Pay calculates and tracks CIS deductions and doesn't file returns itself; have them filed with an accountant. Tax rules change, so check the latest guidance at gov.uk.