A client asks: "Can we pay you in USDC?"
More and more Swiss companies hear this, especially from international clients, crypto-native companies and anyone who's tired of waiting for an international wire.
The answer can be yes. But stablecoin payments are only easy if you decide the boring parts in advance. This guide is the checklist.
What USDC is (in one paragraph)
USDC is a dollar-denominated stablecoin issued by Circle. It's designed to track the US dollar 1:1, and it's available on many blockchains, including Ethereum, Solana, Base, Arbitrum, Polygon, Avalanche and Stellar. For a company, the practical point is that it moves like a crypto asset (24/7, settled on-chain, fast) while being priced in dollars.
Swiss regulators pay close attention to stablecoins. On 26 July 2024, FINMA published Guidance 06/2024, "Stablecoins: risks and requirements for stablecoin issuers and default guarantee banks". It's mostly aimed at issuers and the banks behind them, but it's a good reminder that the details matter.
Why clients want to pay in USDC
- Speed: it settles in minutes, including weekends and holidays.
- Reach: it's easy for clients in places where international wires are slow or costly.
- Habit: crypto-native companies hold their treasury in stablecoins and prefer not to convert.
The 8-step checklist before you say yes
1. Agree the token and the network
"Send USDC" isn't enough. USDC exists on several networks, and a payment sent on a network your account doesn't support may be very hard, or impossible, to recover.
Write it down: token, network, address. Only accept networks your provider supports. Firma supports USDC on Ethereum and Solana. If a client wants to send on another network, the answer is no.
2. Share your address from a trusted channel
Send your receiving address in writing (on the invoice or from your company email) and ask the client to double-check it. Never accept "updated address" messages without confirming them separately.
3. Do a small test payment first
With a new client or a new network, ask for a small test transfer. Confirm it arrived, then send the go-ahead for the full amount. It costs a few minutes and avoids the worst-case scenario.
4. Remember: on-chain payments generally can't be reversed
There's no recall button. If the client sends to the wrong address or network, getting the funds back depends on whoever controls that address. That's why steps 1–3 exist.
5. Invoice it like any other payment
Same discipline as a bank transfer:
- Invoice number and date.
- Invoice in CHF or USD, not in USDC. Accept USDC only as the payment method.
- Show VAT in CHF, if VAT applies, converted at the ESTV monthly average rate or the daily rate (MWSTG Art. 54 para. 3). Getting paid in a stablecoin doesn't change whether your service is subject to VAT.
- Payment instructions: token, network and address.
6. Expect compliance questions
Regulated providers screen incoming crypto transfers and may ask who sent a payment and why. Keep the invoice and client details handy. A clean paper trail makes this a non-event.
7. Decide in advance: hold or convert
Choose a rule before the money arrives:
- Convert immediately to CHF (or EUR) if your costs are in francs and you don't want exposure to USD.
- Hold as USDC if you pay USD costs or other stablecoin-paying partners.
- Split with a simple rule, for example "convert enough to cover next month's CHF costs, hold the rest".
Remember: USDC is pegged to the dollar, not the franc. Holding it means holding USD exposure against your CHF books, the same as holding dollars. For more on conversion costs, see The FX Fee Your Bank Never Shows You.
8. Book it the same way every time
A clean, common approach:
- Book the USDC at its CHF value on the day you receive it.
- Revalue later holdings, and book changes in value as foreign-exchange result.
- Document the rate you used and the transaction ID (the on-chain hash), together with the invoice.
For tax background, the Swiss Federal Tax Administration (ESTV) publishes the working paper "Kryptowährungen und Initial Coin/Token Offerings (ICOs/ITOs) als Gegenstand der Vermögens-, Einkommens- und Gewinnsteuer, der Verrechnungssteuer und der Stempelabgaben" (version of 14 December 2021). Have a tax adviser review your setup once, then repeat it every time.
A worked example (hypothetical)
A small Geneva design studio invoices a client in Lisbon USD 6,000 for a branding project. The invoice is in USD. The client asks to pay in USDC.
- The studio confirms the token (USDC), the network (Ethereum or Solana) and the address, all on the invoice.
- The client sends a test payment of USD 10 worth. It arrives, and the studio confirms.
- The client sends the rest on a Sunday afternoon. It lands the same day.
- Following its rule, the studio converts enough to CHF on Monday to cover rent and salaries, and holds the rest to pay a USD software bill.
- The USDC is booked at its CHF value on the day it arrived, and the Treuhänder receives the invoice, the rate used, the transaction ID and the conversion record in the monthly pack.
No drama, because every decision was made before the money moved.
Common mistakes
- Wrong network. The most painful mistake, and mostly avoidable with step 1 and a test payment.
- Address copied from a chat message without verification.
- No invoice, "because it's crypto".
- No hold-or-convert rule, so you end up making FX decisions in a panic.
- Separate tools for everything: a wallet here, a bank there, a spreadsheet in between. Reconciliation becomes a part-time job.
Bottom line
Stablecoin payments are easy when the boring parts are decided in advance.
Write your "how to pay us in USDC" instructions now, before the first client asks.
FAQ
Can a Swiss GmbH or AG accept USDC as payment?
Yes. Invoice in CHF or USD, accept USDC as the payment method, show VAT in CHF where it applies, and book the payment at its CHF value on the day you receive it.
Which network should my client use to send USDC?
Only one that your receiving account supports. On Firma, that's Ethereum or Solana. Always confirm the network in writing and do a test payment first.
Do I have to convert USDC to CHF?
No, it's a choice. Convert what you need for CHF costs, and hold what you'll spend in USD, if that fits your treasury plan.
How do I book a USDC payment in my accounts?
A common approach: book it at its CHF value on the day of receipt, record later value changes as foreign-exchange result, and keep the rate and transaction ID with the invoice. Have a tax adviser review your setup.
Can I pay Swiss bills with USDC I've received?
With an account that holds stablecoins and fiat on one ledger, you can receive USDC and pay a CHF QR-bill from the same place. See The QR-Bill, Explained for Busy Founders.
Get paid in USDC. Pay in francs. Same place.
On Firma's Plus plan and above, you can receive USDC on Ethereum and Solana, and stablecoins sit on the same ledger as your CHF, EUR and USD accounts. Customers can pay you by bank, card or stablecoin. You pay suppliers by Swiss QR, SIC, SEPA, SWIFT, US rails or stablecoins, with the fee shown before you send. Money in is free. Plus is Fr. 499 a month with 25 bps on outgoing payments.
Related: How to Open a Swiss Business Account in Days, Not Weeks, How to Pay EU Suppliers from a Swiss GmbH (SEPA vs SWIFT), 7 Money Mistakes Swiss Founders Make in Year One and Forward a Bill, Click Approve: Accounts Payable on Autopilot.
This article is general information, not legal, tax, or investment advice. Talk to a qualified adviser about your situation.
Firma is a regulated financial technology company, not a bank. Banking services are provided through banking partners. Balances are digital stablecoin tokens, not bank deposits, and are not covered by esisuisse.
Sources: Circle, USDC; FINMA, Guidance 06/2024 on stablecoins; Swiss Federal Tax Administration (crypto working paper, version 14 Dec 2021; VAT Act Art. 54); Firma.
