Stablecoins
Stablecoins used in business settlement.
The major fiat-pegged stablecoins commonly used for payments and settlement.
By James Hickson · Updated 3 July 2026
Key takeaways
- The most widely used stablecoins in business settlement are USD-pegged tokens such as USDC and USDT. Which are supported for a given flow depends on the corridor, the blockchain network and eligibility — confirm the specifics with the desk for your markets.
- Most used. USDC and USDT
- Peg. US dollar (1:1)
- Networks. Multiple blockchains per coin
- Availability. By corridor, network and eligibility
- You settle in. Fiat — no need to hold crypto
General information, not legal advice.
What is USDC and why is it used in business settlement?
USDC is a US-dollar-pegged stablecoin issued by Circle. Each token is designed to hold a value of one US dollar, backed by reserves held in cash and short-dated US government securities. For a business, that stability is the point: the unit you send is the unit the counterparty receives, without the price movement associated with unbacked crypto-assets. When finance teams talk about using stablecoins to move value between markets, USDC is one of the two names that comes up most often.
Its appeal in regulated settlement flows rests on a few practical qualities. Circle publishes regular attestations on the reserves backing the token, which gives finance and compliance functions a clearer basis for diligence than a purely opaque instrument would. The coin also circulates widely across exchanges, payment providers and treasury tools, so converting between USDC and local currency at either end of a transaction is generally straightforward in the markets where it is supported.
In a settlement context, USDC is best understood as a transport layer rather than something a business is expected to hold. A payer funds a transaction, value moves across a blockchain network in a stable unit, and the beneficiary receives local currency. Whether USDC is the coin used for a particular flow depends on the corridor, the network and account eligibility, so the practical answer for any given payment is one to confirm with the desk. This page is general information and not financial advice.
What is USDT and where does it fit in settlement?
USDT, issued by Tether, is the other US-dollar-pegged stablecoin that dominates day-to-day settlement volume. Like USDC, each token is intended to track one US dollar. What distinguishes USDT in practice is its sheer circulation and market liquidity: it is among the most widely traded digital assets, and in a number of corridors it has deeper on-the-ground liquidity than any alternative. For a business moving value into or out of certain markets, that liquidity can be the deciding factor.
Broad availability matters because a stablecoin is only as useful as the ability to convert it to and from local currency at the receiving end. In some regions, local exchanges and payment partners quote tighter spreads on USDT simply because more of it changes hands there. That can translate into a smoother conversion and a more predictable landed amount for the beneficiary. The trade-off is that reserve reporting and market structure differ between issuers, and a business should weigh those differences as part of its own diligence.
As with USDC, a business using our service does not need to hold USDT or manage a wallet. The stablecoin is part of the settlement mechanism operating in the background. Whether USDT is used for a specific transaction depends on the corridor, the network and eligibility, and the desk confirms what is available for a given market before a payment is arranged. Nothing here should be read as a recommendation of one coin over another.
Why does the blockchain network matter for a stablecoin?
A common point of confusion is that a stablecoin is a single thing. It is not. The same coin can exist on several different blockchain networks, and the choice of network changes how a transfer behaves. USDC and USDT both run on multiple chains, and a given amount of the coin on one network is not automatically interchangeable with the same coin on another. The token is the same in name and peg; the rails underneath it are different.
The network determines settlement speed, transaction fees and how quickly a transfer reaches finality, the point at which it can be treated as irreversible. One network might confirm in seconds at a very low cost; another might be slower or carry higher fees at busy times. These characteristics feed directly into how a payment is priced and how long a beneficiary waits. They also affect operational risk, because sending a stablecoin over the wrong network, or to an address that does not support it, can result in funds that are difficult or impossible to recover.
For this reason, the supported network is not an afterthought — it is part of how a flow is defined. Which networks are available for a particular coin and corridor varies, and that is a deliberate part of how settlement is arranged rather than an open menu. The desk sets the network alongside the coin and the corridor so that the transfer is routed correctly. Businesses do not need to make these technical choices themselves; they need to know the choice exists and is handled for them.
How do I know which stablecoins are available for my payments?
Availability is not a single global list. It is the product of three things working together: the corridor you are paying into or out of, the blockchain network that serves that route, and your account eligibility once onboarding and compliance checks are complete. A coin that is straightforward in one market may not be the right choice in another, and the combination that works is specific to the flow. That is why this page keeps the specifics general rather than publishing a fixed list that would quickly go out of date.
In practice, the desk confirms what is available for your particular corridor and requirement. That confirmation takes account of where funds originate, where they need to land, the networks that serve the route and the outcome of standard onboarding and due-diligence checks. The aim is to route each payment through a combination that settles cleanly and predictably, rather than to offer every coin and network everywhere.
It is worth restating the part that matters most to a finance team: a business settles in fiat and does not need to hold or manage any stablecoin itself. You fund a payment in your currency and the beneficiary receives theirs; the stablecoin and the network are the mechanism in between, selected and operated by us. If you want to know which coins and networks apply to a specific market or payment, the accurate answer comes from the desk. This page is general information and does not constitute financial advice.
Stablecoins commonly used in settlement
| Coin | Issuer | Peg | Notes |
|---|---|---|---|
| USDC | Circle | US dollar | Reserve-backed with regular public attestations; widely used in regulated flows. Runs on multiple networks. |
| USDT | Tether | US dollar | Very broad circulation and market liquidity; often deep local liquidity in specific corridors. Runs on multiple networks. |
| Networks | — | — | The same coin can run on several blockchains; supported networks vary by corridor and flow, and affect speed, fees and finality. |
Support depends on corridor, network and eligibility — confirm with the desk. Not financial advice.
FAQ
Common questions
Which stablecoins are most used in business settlement?
US-dollar-pegged tokens dominate, principally USDC issued by Circle and USDT issued by Tether. Both are designed to track one US dollar. Which is used for a given payment depends on the corridor, the network and your account eligibility, so confirm the specifics with the desk.
What is the difference between USDC and USDT?
Both are US-dollar-pegged stablecoins intended to hold a value of one dollar. USDC, from Circle, is known for regular public reserve attestations and wide use in regulated flows. USDT, from Tether, is known for very broad circulation and deep market liquidity, which can matter in particular corridors. This is general information, not a recommendation of one over the other.
Does the blockchain network change how a stablecoin behaves?
Yes. The same coin can run on several networks, and the network affects settlement speed, fees and finality. It also affects operational safety, since sending a coin over an unsupported network can put funds at risk. Supported networks vary by corridor and flow, and the desk sets the network alongside the coin.
Do I need to hold or buy stablecoins to use the service?
No. A business settles in fiat. You fund a payment in your currency and the beneficiary receives theirs; the stablecoin and network operate in the background as the settlement mechanism. You do not need a wallet or any crypto-asset holding of your own.
How do I find out which coins and networks are supported for my market?
Availability depends on the corridor, the network and your eligibility after onboarding and compliance checks, so it is confirmed per market rather than published as a fixed list. Contact the desk with your route and requirement and we will confirm what is available.
Is the value of a stablecoin guaranteed to stay at one dollar?
A stablecoin is designed to track its peg, but no instrument is entirely without risk, and reserve arrangements and reporting differ between issuers. That is one reason availability and choice of coin are handled at desk level. This page is general information and does not constitute financial advice.