What is USDC?
USDC (USD Coin) is a dollar-pegged stablecoin issued by Circle. The aim is for one USDC to be redeemable for one US dollar.
A peg is a design goal, not a law of nature. USDC briefly traded below one dollar in March 2023, during the US banking stress that followed the failure of Silicon Valley Bank, and then returned to its peg. For a business, the practical point is that USDC is priced in dollars, unlike Bitcoin or Ether, so there is no price exposure between sending an invoice and getting paid the way there would be with a volatile asset.
USDC moves on blockchain networks. A confirmed on-chain transfer is not reversed by the network, which is the main way it differs from a card payment.
What SaturnShift accepts
- USDC on Ethereum, Base, Arbitrum and Polygon.
- USDT on Ethereum and Base.
- Stablecoins only. SaturnShift does not accept Bitcoin, Ether or other cryptocurrencies.
- You choose which stablecoins and networks you accept.
Stablecoin payments settle in kind, to your own payout wallet, on the network your customer paid on. A USDC payment on Polygon arrives as USDC on Polygon. SaturnShift does not hold the funds, and nothing is moved to another network on your behalf.
Why some businesses add USDC
No card-style chargeback process. There is no card network dispute process for an on-chain transfer, which matters for high-value service invoices. If you need to give money back, refunds are supported within your refund window.
Dollar-denominated. You invoice in dollars and are paid in a dollar-pegged token, so there is no exchange-rate exposure of the kind you take on with volatile crypto.
Fewer barriers for clients who already hold stablecoins. Some businesses and individuals keep part of their working capital in USDC. Offering it removes a step for them.
Timing is not one of the reasons on this list. Settlement time depends on the payment method, the network and processing conditions, so don't plan cash flow around a particular number.
Do my customers need to own crypto?
To pay in USDC, yes. A customer needs a wallet that holds USDC on one of the networks you accept.
That's why it helps to offer stablecoins alongside other methods rather than instead of them. On the Starter and Full Suite plans, one invoice or payment link can be paid by card, bank payment (ACH) or stablecoin, and the customer chooses on SaturnShift's hosted checkout page. Crypto Suite is stablecoin only. Card and ACH payments are processed through Stripe and paid out to your bank account.
How to get started, step by step
1. Create an account and complete onboarding.
Every account completes a short Stripe onboarding, even for stablecoin-only businesses on Crypto Suite. SaturnShift then reviews and approves the account as a separate step. You can explore the product and set up invoices before approval, and you can start accepting payments once your account is approved.
2. Set up a payout wallet.
Stablecoin payments need a payout wallet before they can settle. It is an Ethereum-compatible address (it starts with 0x). You can register the same address on all four networks in one step, or a different address on each.
A self-custody wallet you control, such as MetaMask or a hardware wallet, is the safer choice. You can use an exchange deposit address, but check its minimum deposit and its supported networks and tokens first. A small payment can fall below an exchange's minimum and be delayed or not credited, and funds sent on a network the exchange doesn't credit can be lost permanently.
3. Choose how you collect.
Invoices, payment links (including links where the customer enters the amount), QR codes, Text to Pay by SMS, and a checkout button for your own website that opens SaturnShift's hosted checkout by redirect or popup.
4. Send to your first customer.
The customer opens the invoice or link and picks a payment method available on your plan. A customer paying in USDC sends it from their own wallet on a network you accept.
5. Track payments.
Payments appear in your dashboard, which includes reporting, reconciliation, settlement views and monthly statements. On Crypto Suite and Full Suite you can also connect QuickBooks Online, so invoices, payments, refunds and fees, including stablecoin payments, are reflected in your books.
Which network should my customer use?
Any network you accept. The payment settles to your wallet on that same network, so make sure your payout wallet can receive on every network you turn on. That matters most if you use an exchange deposit address.
Network fees differ between networks and change with network conditions. Ethereum is generally more expensive to transact on than Base, Arbitrum or Polygon, which is worth knowing if your customers make smaller payments.
What does it cost?
SaturnShift's platform fee on a stablecoin payment is 1.00% + $0.10 on Starter ($0 a month) and 0.75% + $0.10 on Crypto Suite ($49 a month) and Full Suite ($69 a month). Sending a transaction on a blockchain also costs a network fee, which is separate from SaturnShift's fee. See pricing for the full plan comparison.
What about taxes and accounting?
We don't give tax advice. Ask your accountant how stablecoin receipts should be recorded for your business.
Common questions
Is USDC safe?
USDC is designed to hold a one-dollar value backed by reserves, and Circle publishes reserve reports. It is not a bank deposit, and it briefly lost its peg in March 2023. Read the issuer's disclosures and decide what level of stablecoin exposure suits your business.
Can I convert USDC to dollars in my bank account?
Not through SaturnShift. SaturnShift does not convert stablecoins to dollars and offers no cash-out. Your stablecoin lands in your own wallet; convert it through your own exchange if you choose. Card and ACH payments, by contrast, are paid out to your bank account through Stripe.
Do I need to understand blockchain to use this?
You need a payout wallet and to know which networks it can receive on. Sending invoices and tracking payments works in the dashboard in the same way as for card and bank payments.
What if a customer pays the wrong amount?
Contact SaturnShift support about the specific payment. We don't describe the handling of underpayments and overpayments here.
To compare plans, see pricing.
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