Pay contractors in USDC or in their own currency

To pay contractors, ask each one how they want to be paid, save their wallet or bank details once, and pay everyone from the same account: USDC or EURC to a wallet, or USD, EUR or GBP to a bank. With Holyheld Business, a contractor's USDC is bought from your USD balance through an on-ramp transfer, and euros go out by SEPA from your EUR account.

Best for

• A company, or the legal entity behind a DAO, whose contributors want to be paid in USDC.
• A team paying a mix of contractors, some in stablecoins and some by SEPA, ACH, wire or Faster Payments.
• A finance lead who wants two directors to approve large payments and first payments to new contractors.

Ways to pay a contractor

Agree how each contractor is paid

Settle these points before the first payment and keep them on the contractor's record:

• Currency or token. USDC, EURC, or USD, EUR or GBP, and who bears any difference if the invoice is in one currency and paid in another.
• Network, for stablecoins. The network they receive on, such as Base or Solana. Which network to receive USDC on explains the choice.
• Where it goes. The wallet address, or the bank account and the name on it.
• Reference. Their invoice number, so each payment matches a bill.

If a contractor needs a currency other than USD, EUR or GBP, a USD wire is sent so they receive the full amount, and their bank converts it at its own rate. A provider with local payouts in that currency may suit them better.

Save their details once

• A wallet. In Add Crypto Wallet, choose the network, USDC or EURC as the currency, and enter the address. A Solana address is checked as valid before it is saved.
• A bank account. In Add Bank Account, enter the account details. For Faster Payments, the name is checked with the recipient's bank and shows as Name confirmed, Close match, No match or Name not checked.

Confirm a new or changed wallet address through a separate channel, such as a call to a known contact, and send a small test payment first. How to pay suppliers in stablecoins covers the checks in full.

Pay in USDC or EURC

A wallet saved in USDC is paid from your USD account, and one saved in EURC from your EUR account, through an on-ramp transfer. Paying a wallet from the account in the other currency is refused on the screen, with a prompt to choose another wallet or account.

On EVM networks, Pay the vendor in lets you buy a different token for a contractor from your USD account. The quote shows about how much they receive and the least they will receive, and you agree to that minimum before anything is sent. On Solana, contractors are paid in USDC or EURC only.

Pay in their own currency

• EUR by SEPA goes from your EUR account.
• USD by same-day ACH or outgoing FedNow goes from your USD account.
• USD by wire can be domestic or international, and international wires are sent so the recipient receives the full amount.
• GBP by Faster Payments is paid from your USD account: you enter what the contractor gets in pounds, and the screen shows what you pay in dollars and the rate. The app lists Faster Payments as up to 30 minutes, 24/7.

Approve payments the way your directors decide

Payment rules let your directors decide which payments one of them can send alone and which need two or more of them. A rule can cover any payment above an amount, a daily limit per director, or the first payment to new bank details or a new wallet, whatever the amount. The last approval sends the payment, and a request that doesn't get enough approvals within 7 days expires with no money sent (payment rules).

With team roles, an Assistant can prepare a payment that a Director approves.

Keep the records together

Every settled payment becomes a record in Accounting, where you categorise it, split it across categories or tag it by project, and export it for QuickBooks, Xero or your accountant. For a stablecoin payment, keep the transaction hash with the contractor's invoice number: the hash proves the payment onchain, and the invoice number ties it to your books.

This guide covers contractors who invoice you. Paying employees through payroll involves tax and reporting rules outside it.

What it costs

Payments to wallets carry the network fee, set by the network. Holyheld's on-ramp and transfer fees are on the pricing page.

Common questions

Can a DAO pay its contributors in USDC this way?

Holyheld Business is for companies, and each application is reviewed. A DAO that pays contributors through a legal entity, such as a foundation, applies as that entity.

Can contractors be paid in USDC on Solana?

Yes. Save their Solana wallet with USDC or EURC as the currency, and pay it from your USD or EUR account in the same Send Money flow as wallets on other networks.

Can two directors be required to approve contractor payments?

Yes. Payment rules can require two or more directors for payments above an amount, past a daily limit or to a new payee. They need at least two directors, and only directors can change them.

Can a contractor be paid in a token other than USDC?

On EVM networks, yes: from a USD account, the Pay the vendor in option buys the token the contractor names, priced before you send. On Solana, payments are in USDC or EURC only.

Sources

• Pay vendors on Solana, Pay in the vendor's own token, Faster Payments in GBP, Payments that need more than one director and Accounting: how each step works in Holyheld.
• Holyheld Business pricing: membership and transfer fees.