How to Pay Contractors with Stablecoins

Whether your contractor wants USDC or money in the bank, you can pay them from stablecoins. Here is how each works, and what our partner needs about them.

If your business holds stablecoins — from clients who pay that way, or because it is cheaper to hold dollars on-chain than in some local banks — paying contractors from them is often the simplest thing. The question is what the contractor wants to receive: the stablecoin itself, or money in their bank account.

Option 1: send the stablecoin to their wallet

If they have a wallet and want USDC, send it. From the Wallet page, Send moves any stablecoin in your Rampy wallet to another address, and on the networks listed there Rampy pays the network fee for you. There is no conversion and no fee from us.

• Ask for the address and the network in writing, and check both. The same coin on a different network is not the same address, and a transfer on the wrong one may not be recoverable.
• Send a small test amount the first time.
• Keep a record of what each payment was for. The blockchain shows that money moved, not why.

Option 2: pay their bank account in their currency

If they want money in the bank, you can sell stablecoins straight into their account: US dollars, euros or pounds, on that currency's own rail (and reais or pesos if you are from Brazil or Mexico). You add their account once, as somebody else's, and then pay it like one of your own.

1. Under Bank accounts, choose Someone else's and give the holder's full name exactly as their bank has it, and their address. For a company, add its registration number if it has one.
2. Sell to that account whenever you pay them. The preview shows the fee and roughly what will arrive before you confirm.
3. For someone you pay regularly in stablecoins, an auto-convert address can pay their account on its own once it has been linked for a week.

Why the name and address

Payment-transparency rules, often called the Travel Rule, require the payer's and the payee's details to travel with a payment. Our partner sends yours as the originator and your contractor's as the beneficiary. In the UK and the euro area the receiving bank also checks the name against the account before accepting it, so a spelling that differs from their bank's record can hold the payment up.

Limits

Each payment to somebody else's account has a limit, and it is lower while the account is new to you. The current limits are shown in the app before you confirm. For a larger amount, split it across payments or wait until the account is no longer new.

For a company with a team

On a business account you can add colleagues with their own roles, so someone in finance can prepare payments without being able to change who is on the team. Adding a bank account or changing a role needs a code from the person's email, and the account owner is emailed each time one is added.

Frequently asked