USDC
Stablecoin Payment Rail
USDC is a dollar-pegged stablecoin that settles globally in minutes — the core of Bitwage's cross-border payment stack.
USDC Key Facts
Stablecoin Rail · Bitwage
USDC Technical Specifications
How Bitwage Uses USDC
Bitwage uses USDC as the primary cross-border payment rail for markets where local rails are unavailable, slow, or where contractors prefer dollar-denominated income. When a US client funds their Bitwage Balance in USD and executes a payment run for international contractors, Bitwage converts USD to USDC at a locked rate and delivers on-chain to each contractor's wallet address within minutes.
Bitwage supports USDC on three networks: Ethereum mainnet (broadest wallet compatibility), Polygon (sub-cent fees, ideal for batch payments), and Solana (fastest confirmation). Network selection is automatic based on recipient wallet type and current network conditions. Clients don't manage network selection — they specify USD amounts and recipient addresses, and Bitwage handles the rest.
USTC is particularly valuable for Bitwage clients paying contractors in Argentina (avoiding ARS currency controls), Nigeria (bypassing dollar shortages), and any market where SWIFT corridors are slow or expensive.
USDC vs SWIFT
SWIFT wires take 1–5 business days and cost $25–$50 at the sending bank plus $10–$30 in correspondent bank fees. USDC on Polygon settles in under 5 minutes and costs under $0.01 in gas. For recurring contractor payroll in USDC-accessible markets, USDC is 50–100x cheaper and 100–1000x faster than SWIFT. The tradeoff: SWIFT covers every country with a bank; USDC requires the recipient to have a crypto wallet.
Full stablecoin vs SWIFT comparisonUSDC FAQ
Common questions about Stablecoin Payment Rail and how Bitwage uses it.
Bitwage supports USDC on Ethereum, Polygon, and Solana. Polygon is used for most contractor payments due to sub-cent fees. Ethereum mainnet is available for recipients who require it. Network selection is automatic.
Recipients in 100+ countries can receive USDC via any ERC-20-compatible wallet or exchange. Countries with strict crypto bans (China, some Middle East) may have limited options. For these, Bitwage routes via SWIFT payment or local rails instead.
USDC is backed by cash deposits and short-duration US Treasury securities. Circle publishes monthly reserve attestations audited by Deloitte. Each USDC is redeemable for $1.00 at Circle.
Every USDC payment is pre-screened against OFAC screening lists. Circle also maintains the ability to freeze USDC at the smart contract level for sanctioned addresses. Bitwage's compliance engine catches violations before on-chain submission.
Pay via USDC — Automatically
Bitwage routes payments through USDCwhen it's the optimal rail for your recipients. No configuration required.