Ramp adds stablecoin accounts for cross-border payments

Ramp has launched Stablecoin Accounts that allow businesses to hold digital dollar balances and send international payments in USDC or USDT around the clock, the company said. The product extends Ramp’s payments platform into stablecoin treasury and vendor settlement, targeting cross-border transactions that can be delayed by bank cutoffs, wire windows and intermediary fees.

The company said customers can open a Ramp Stablecoin Account to keep funds in stablecoins inside Ramp, or use stablecoins only as a payment rail through Ramp Bill Pay while funding the transaction from a US dollar bank account. In both cases, Ramp positions the service as a way to reduce the number of separate systems companies use for exchange, wallet handling and accounting reconciliation.

How the account works

Ramp said a Stablecoin Account lets businesses hold what it describes as digital dollars directly on its platform. The company said the balances are intended to be worth $1 and backed by cash reserves, and said the product is not an investment. Ramp also said there are no fees to convert between US dollars and USDC or USDT.

The accounts sit alongside existing cash accounts in the Ramp interface, according to the company. Ramp said businesses can view balances in the same dashboard, apply the same payment approval rules and sync activity through the same accounting connections used for other transactions.

Ramp said customers that maintain balances in USD stablecoins can earn up to 3.25% in rewards. The company did not include the detailed terms for those rewards in the announcement.

Vendor payments through stablecoins

The company said businesses can send USDC or USDT to vendor or contractor wallets in more than 140 countries. Ramp also said customers can convert stablecoins to fiat currency and pay through local payment rails in more than 40 currencies.

Ramp is also adding stablecoins as a payment method in Ramp Bill Pay for companies that do not want to hold a separate stablecoin balance. Under that model, a business can fund a payment from Ramp Checking or an external bank account, after which Ramp converts the dollars and sends USDC or USDT to the recipient’s wallet, according to the company.

The mechanism gives vendors the option to receive stablecoins while allowing the payer to begin with dollars, rather than requiring the payer to manage stablecoin custody separately. Ramp said the service is built into its existing platform, including payment controls and accounting connections.

Ramp said hundreds of companies have opened Stablecoin Accounts. It also said more than 1,000 businesses already use stablecoins to pay vendors through Ramp, with more than 70% of that stablecoin payment volume moving outside traditional banking hours.

Pravesh Mansharamani, chief executive of Totalis, said in a statement provided by Ramp that the accounts had allowed the company to keep its treasury on-chain. “We believe that traditional banks and rails do not serve the companies of tomorrow — instant, 24/7, programmable money is the future of money,” Mansharamani said.

The launch comes as payments companies continue to test stablecoins for international settlement, where bank operating hours, correspondent networks and foreign-exchange processes can add time and cost. Ramp’s announcement frames stablecoins as a payments and treasury tool for businesses rather than as a speculative asset.

This story draws on original reporting from Finextra Research.