OnePay Adds USDC Deposits With Automatic Dollar Conversion

OnePay introduced deposits in USDC, a stablecoin designed to track the US dollar, for selected US customers on 30th October 2026. The service allows tokens sent from outside the app to be converted into dollars in their checking accounts. The company said in its launch announcement that it would charge no conversion fee at launch.

The service initially supports USDC across 12 blockchains, including Tempo, Base, Solana and Ethereum. Customers use a deposit address generated through the app, while the resulting checking balance remains in dollars.

Bridge Handles The Conversion

Stripe's Bridge platform provides the deposit addresses, receives incoming tokens, performs compliance checks and converts the stablecoins. OnePay then credits the customer's checking balance. The company said deposits usually arrive within moments, while noting that network processing and required checks can take longer.

The feature went live on 30th October for selected US users. OnePay's own announcement points to gig workers and freelancers who receive stablecoins as potential users of the service.

The launch's pricing does not remove blockchain transaction costs. OnePay says network fees remain the sender's responsibility. Its announcement also warns that the dollar proceeds depend on the stablecoin's value when converted and may be lower than the amount sent.

Customer Terms Set Transfer Conditions

The customer agreement, effective from 5th October, requires customers to own the stablecoins and control the address used to send them. It prohibits receiving stablecoins from third parties through the programme.

The agreement permits a partner bank to make an early dollar credit available after Bridge confirms conversion, before the corresponding dollars have reached the bank's settlement account. The bank can reverse that credit if Bridge does not deliver the dollars or cancels the transaction, including after a compliance review.

The agreement treats that settlement risk separately from a stablecoin losing its dollar peg. Conversion at a lower market value produces a smaller dollar credit, with the customer bearing the difference. The terms put early access at the bank's discretion and impose no interest or credit charges for it.

Access requires an existing OnePay deposit account in good standing and successful Bridge verification. Availability also depends on Bridge being authorised to provide its services in the customer's US jurisdiction. OnePay's launch announcement names Coastal Community Bank and Lead Bank as its banking service providers.