Offer your merchants USDC settlement under your own brand.
For payment service providers
Venly Finance adds a USDC settlement option to the settlement file you already run. Merchants who want a bank payout keep it; merchants who want USDC receive it in their own verified account, which comes with a managed wallet. Your existing bank run keeps paying every line.
Talk to us
Read the documentation
Monday to Friday at a PSP
The week Elena adds USDC settlement for her merchants.
Elena Vos runs settlement at a payment provider. Every merchant in her file is settled in EUR by SEPA. On Monday, Merchant B asks to be paid in USDC on Base.
Can a PSP in the EU offer USDC settlement without its own licence?
It depends on your role in the flow, the flow itself and your jurisdiction, and your compliance team makes that call. In the setup this page follows, Elena’s PSP keeps its existing SEPA settlement run, and the stablecoin legs run on licensed partner rails. The licensing table further down shows who runs each leg of her week.
Request
Monday: a merchant asks for USDC
Merchant B sells to customers abroad and wants its settlement in USDC on Base. Elena’s file settles every merchant in EUR by SEPA, and she does not want a second payout system running beside it.
Build or partner for a stablecoin settlement leg
Onboard
Tuesday: Merchant B is onboarded once
Her team adds Merchant B as an organisation party and creates its account on Base, with a wallet created alongside. The account starts at VERIFICATION_PENDING while KYB runs; Merchant B accepts our partners’ terms, and the account can move money once it reports VERIFIED.
Details
Wednesday: the new option goes into the file
Merchant B gets its own EUR receiving details that convert to USDC, so in the settlement file its destination becomes that IBAN and its option reads USDC on Base, while Merchants A and C stay as they were.
How EUR receiving details convert to USDC
Run
Thursday: the SEPA run goes out as usual
Elena’s existing run pays all three merchants by SEPA, with Merchant B’s line going to its new IBAN and quoting its reference.
Credited
Merchant B receives USDC
The EUR credit is attributed to Merchant B’s account and converts into USDC as it lands. Merchant B sees the balance in your merchant portal, under your brand. Timing depends on the rail and the checks each payment needs.
Converting settlement balances with Fundflow
Closed
Friday: the file closes
Every line in the file has a status and an amount, and Merchant B’s line carries both the EUR sent and the USDC credited. When the next merchant asks, Elena repeats the same three steps: onboard, receiving details, a new destination in the file.
The accounts, receiving details and fields in this story are documented in the virtual bank account guide.
Read the virtual bank account guide
The settlement file
Six merchants, two settlement options, one run
By the end of the month Elena’s file has six merchants, each line with its gross, her fees and the net she sends. Three still settle in EUR by SEPA to their own bank. Three chose USDC: their net goes to their receiving IBAN, and the credit converts into USDC on their account. One of those credits arrived without its reference and waits for manual reconciliation.
Settlement options for your merchants
EUR by SEPA to the merchant’s bank
Your existing run
Unchanged. Nothing in these lines moves to a new system.
USDC on the merchant’s own account
Supported
Your SEPA run pays the merchant’s EUR receiving details, and the credit converts into USDC on its account, on the chains enabled for your account.
More rails for merchants outside SEPA
Being added
USD by wire including international SWIFT, and local currency in supported African markets, paid to bank accounts or mobile money and collected by bank transfer or mobile money.
Options being added are not available until Venly confirms them for your merchants and markets.
Bank payouts by ACH, SEPA and Faster Payments, route by route
Licensing
Each leg of Elena’s week, and who runs it
Whether you need your own permissions depends on your role in the flow, the flow itself and your jurisdiction, and your compliance team makes that call. To make it concrete, here is each leg of the week above and who carries it. Flows run on licensed partner rails today.
Paying merchants by SEPA
Thursday: her existing run, Merchant B’s line included
Your PSP, on the run you already operate
Merchant verification
Tuesday: KYB on Merchant B before any money moves
Part of party creation; screening runs on licensed partner rails
EUR receiving details and conversion to USDC
Wednesday and Thursday: Merchant B’s IBAN, and the credit converted on arrival
Licensed partner rails
Holding the USDC
Merchant B’s own account on Base
The managed wallet created with the account, or a self-custody wallet on your keys where your setup needs one
The other way PSPs set this up
Elena’s setup
You work through licensed partners
Regulated services are delivered through licensed partner institutions.
You hold your own permissions
Venly is your technology provider: accounts, wallet infrastructure and settlement software, with self-custody wallets on your keys where your setup needs them.
How Venly compares to BVNK and Bridge
MiCA and the CASP regime, explained
From the settlement desk
Do merchants who stay on EUR notice anything?
No. Their line in the file, their bank account and their SEPA credit stay as they are. The option only changes the lines of merchants who choose USDC.
Do we have to build custody or run wallets?
A managed wallet is created with each merchant’s account, on a chain enabled for your account. If a merchant should receive into a self-custody wallet it controls, it proves ownership of that wallet first.
Which stablecoins and chains?
This story uses USDC on Base. Incoming EUR converts into the stablecoin set on the merchant’s receiving details, and the chains available depend on how your account is configured.
How long does a merchant wait for its USDC?
Timing depends on the rail and the checks each payment needs. The receiving details report their own status, and the merchant’s balance shows the USDC once it is credited.
What does the option cost?
Pricing is quoted per contract against your product, use case, volume and rails: a setup fee, a monthly minimum that counts as usage credit, and usage fees.
Our merchants are marketplace sellers. Is this the right page?
If your platform pays its own sellers, each choosing a bank payout or a stablecoin transfer, Payment platforms shows that flow.
If your merchants are marketplace sellers
Related
The account and party model behind each merchant
Paying recipients in other countries
How a referenceCode attributes each incoming credit
Card issuance for your merchants, coming soon
Switch on USDC for your first merchant
We map that merchant’s line in your settlement file: its account and KYB, its receiving details, and what your team keeps running.
Talk to us
Read the documentation
What each merchant clears before settlement
Each merchant is verified before its first USDC settlement. An account moves money only once it reports VERIFIED, and screening runs on licensed partner rails.
SOC 2 Type 2 certified. Our own licences are in flight and flows run on licensed partner rails today.