Freelancers value real-time, cross-border payments. While SEPA (Single European Payments Area) transfers are almost instant and affordable, international SWIFT transfers are expensive (typically around $18) and can take up to 7 business days to process. That’s why we’re excited to announce that Abillio now offers stablecoin payment options for freelancers, specifically USDC on the Solana network. These payments will be handled through our partnership with Coinspaid.
What Are Stablecoins?
USDT (Tether) and USDC (USD Coin) are stablecoins—cryptocurrencies designed to maintain a stable value pegged to the US dollar (1 USD = 1 USDT/USDC). However, they differ in key aspects such as their issuers, transparency, regulatory oversight, adoption, and the blockchains they operate on. USDT is issued by Tether Limited, while USDC is managed by Centre Consortium. Tether (USDT) has been discontinued in the European Union (EU) due to the Markets in Crypto-Assets (MiCA) regulation, which imposes stricter compliance requirements for stablecoin issuers.
How Fast Are Stablecoin Payments?
USDC transfers on the Solana blockchain are extremely fast, typically settling in ~400 milliseconds (0.4 seconds). This makes Solana one of the fastest blockchains for stablecoin transactions.
What Is the Transfer Fee for USDC?
Abillio uses a third-party service to facilitate stablecoin payments, with a fee of 1% of the amount transferred to your wallet.
How USDC on the Solana Network Works
USDC (USD Coin) is a stablecoin pegged 1:1 to the US dollar and issued by Circle. On the Solana network, USDC operates as an SPL token, following Solana’s native token standard (similar to ERC-20 on Ethereum).
Key Features of USDC on Solana
- Fast & Low-Cost Transactions – Solana’s blockchain provides high throughput (~65,000 TPS) and low transaction fees (usually fractions of a cent).
- SPL Token Standard – USDC on Solana follows Solana’s SPL standard, meaning it is compatible with wallets and dApps that support SPL tokens.
- Instant Settlement – Unlike bank transfers, transactions with USDC on Solana settle in seconds.
How to Verify Your Wallet Address on Solana
To check and verify your Solana wallet address, follow these steps:
- Find Your Wallet Address
If using Phantom, Solflare, or Ledger, open your wallet and copy your public Solana address (it starts with 5, H, J, or other characters).
Example format: Hh3gk9pL3fY8Nk5zLr3xx5yJzG73x5PbExMZKtPZ9x1U - Verify Your Address on Solana Explorer
- Go to Solana Explorer
- Paste your wallet address into the search bar
- You’ll see:
- Balance (including USDC)
- Transaction history
- SPL tokens held (including USDC)
- Account details
How Can I Add My USDC Wallet Address to My Abillio Account?
This feature is currently in beta testing. To add your USDC wallet address, simply contact our support team via the chat bubble in the lower right corner of our website. Our team will manually add the address to your payout methods.
Is My Solana Wallet Secure?
Most software wallets are classified as “hot wallets,” meaning they are connected to the internet. Access to your wallet is controlled by private keys, so it’s critical to keep these keys secure. Anyone with access to your private keys can control your funds. Always safeguard your private keys and only share your wallet address, never the keys themselves.
I Don’t Have a USDC Wallet—Where Can I Get One?
If you don’t already have a USDC wallet, you can create one on platforms such as Coinbase, Binance, or Bybit, depending on availability in your country. These platforms also allow you to convert USDC into local currency and withdraw funds to your bank account.
Availability Note:
• Binance operates in over 100 countries but is restricted in regions like the U.S., U.K., Japan, and Ontario due to regulatory challenges.
• Bybit is unavailable in certain jurisdictions, including the U.S., mainland China, Hong Kong, Singapore, Canada, France, the U.K., and some Russian-controlled regions of Ukraine (e.g., Crimea, Donetsk, and Luhansk).
• Coinbase is widely available in the U.S., Canada, Australia, the U.K., EU countries, and many others.
To get started, explore how Abillio works.
FAQs
Q: Can I send USDC from Solana to Ethereum directly?
A: No, you need a bridge like Wormhole or use Circle’s Cross-Chain Transfer Protocol.
Q: What happens if I send USDC (Solana) to an Ethereum address?
A: Funds may be lost if the receiving wallet does not support SPL USDC.
Q: Is my wallet address the same across different blockchains?
A: No, Solana addresses are different from Ethereum or other blockchain addresses.
