High fees, slow transactions, and regional limits have made international payments difficult for many people. Freelancers, remote workers, businesses, and families often face stress and lose money because of these problems. Cryptocurrency has changed global finance in a big way. Although some cryptocurrencies are known for being volatile, stablecoins stand out as a reliable option for global payments because they hold their value.

In this article, we will explore how stablecoins work and how to manage them easily.

Also read: How to send and receive USDC directly in your USD account

Understanding stablecoins

Stablecoins are digital currencies designed to maintain a fixed value by being pegged to a stable asset, usually the US dollar, euro, or even commodities like gold. Unlike volatile cryptocurrencies such as Bitcoin or Ethereum, stablecoins aim to provide price stability, making them suitable for payments.

Popular stablecoins include:

• USDC (USD Coin): This is tied 1:1 to the US dollar and is widely accepted. Circle and Coinbase issue USDC, and it is fully backed by US dollar reserves that are regularly audited. USDC operates on networks such as Ethereum, Solana, and Stellar, making it particularly useful for international payments. If you want to handle USDC easily, platforms like Grey let you send and receive USDC quickly and securely, with no hidden fees. This makes it a good choice for cross-border payments.

Also read: USDC vs. other stablecoins: what's best for global transactions?

• USDT (Tether): This is one of the oldest and most used stablecoins. It is also pegged 1:1 to the US dollar and backed by reserves including cash and treasuries. It's widely accepted on exchanges and supports multiple blockchains like Ethereum and Tron.
• DAI: DAI is a decentralised stablecoin pegged to the US dollar through collateral by cryptocurrencies. It's popular because it doesn’t have central control, but can be slightly more complex for beginners.
• EURC (Euro Coin): Pegged to the euro, this is suitable for European transactions, offering similar stability and low fees on compatible networks.

Benefits of using stablecoins for international payments

Using stablecoins for international transfers eliminates the shortcomings of conventional international payment methods that use fiat currencies. Stablecoins provide:

• Speed: Transactions settle in minutes or seconds on blockchain networks, operating 24/7 without banking hours or holidays.
• Low costs: Fees are typically low and depend on the network used.
• Transparency: Every transfer is recorded on a public ledger, which reduces fraud and enables easy tracking.
• Accessibility: Anyone with internet access can use stablecoins, even without a bank account. This is especially helpful for people in developing regions who may not have access to traditional banking.
• Borderless nature: Stablecoins like USDC keep their value, so you avoid losing money on currency conversions and don’t have to worry about price swings. They also help you get around local restrictions.

How to send international payments using stablecoins

Sending stablecoins is relatively straightforward:

1. Set up a wallet – Choose a secure wallet that supports stablecoins.
2. Purchase stablecoins – Buy stablecoins from a trusted exchange or payment platform.
3. Enter recipient details – Use the recipient’s wallet address (double-check to avoid errors).
4. Confirm and send – Once confirmed, the recipient receives the funds almost instantly.

Also read: How to accept payments in USDC as a digital nomad

How to receive international payments using stablecoins

If you are on the receiving end:

1. Share your wallet address – Provide your sender with the correct USDC wallet address.
2. Receive USDC – The transfer typically takes just a few minutes to reflect.
3. Withdraw or convert – Depending on your needs.

Also read: How USDC is revolutionising international money transfers

Seamless USDC transactions with Grey

Stablecoins are changing how people send and receive international payments by solving the problems of currency volatility, unfavourable currency conversions, local restrictions, and slow processing speed. However, many users still face challenges when converting them into local currencies. This is where Grey comes in. Grey  makes it easy to:

• Receive payments in USDC with easy account setup.
• Grey instantly converts USDC to your USD account.
• Spend your money globally using multi-currency accounts.

Here’s how to get started on Grey within minutes:

1. Sign in to your Grey account.
2. Click on the ‘add’ button on your home screen.
3. Select ‘add via stablecoins’.
4. Share payment details with sender.
5. Grey converts your USDC into USD instantly.

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Sign up on Grey today for seamless USDC transactions.

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