{"author":"tzm","children":[{"author":"MuffinFlavored","children":[{"author":"lanecwagner","children":[],"created_at":"2022-09-23T04:24:52.000Z","created_at_i":1663907092,"id":32948049,"options":[],"parent_id":32946847,"points":null,"story_id":32945295,"text":"Connect is Stripes product that allows you to build marketplaces. I believe this would be how you would pay out your users. e.g. if PayPal used stripe to back their app.","title":null,"type":"comment","url":null}],"created_at":"2022-09-23T01:20:53.000Z","created_at_i":1663896053,"id":32946847,"options":[],"parent_id":32945295,"points":null,"story_id":32945295,"text":"&gt; Crypto payouts enable your platform to pay sellers, freelancers, creators, and service providers in crypto, starting with USDC.<p>I&#x27;m confused. Can you checkout with USDC (customer buying goods&#x2F;services + paying with USDC)? Where does paying out come into play?<p>If I sell a widget for $20 on my Shopify store, I can accept USD or USDC. Then I can pay myself out with USD or USDC? I feel like I have this wrong.","title":null,"type":"comment","url":null},{"author":"jqpabc123","children":[{"author":"yokem55","children":[{"author":"jqpabc123","children":[],"created_at":"2022-09-23T15:17:07.000Z","created_at_i":1663946227,"id":32953062,"options":[],"parent_id":32952278,"points":null,"story_id":32945295,"text":"There are transaction fees based on how fast you need your money.  The wire fee is $25.  ACH is free but can take 3-5 <i>business</i> days according to their web site.  There are also limits on transaction amounts.<p>Bottom line: The business case for using USDC over fiat banking is virtually nil in my opinion --- more gimmick than function.  Decent credit unions  have been providing similar service for years --- including debit card --- minus the crypto experience.","title":null,"type":"comment","url":null}],"created_at":"2022-09-23T14:18:22.000Z","created_at_i":1663942702,"id":32952278,"options":[],"parent_id":32950101,"points":null,"story_id":32945295,"text":"In my experience, Coinbase doesn&#x27;t charge any fees on USDC to USD conversion. And then if you live in the right place, you could get their debit card and use your funds pretty much instantly.","title":null,"type":"comment","url":null}],"created_at":"2022-09-23T10:37:17.000Z","created_at_i":1663929437,"id":32950101,"options":[],"parent_id":32945295,"points":null,"story_id":32945295,"text":"Paying out with USDC provides the <i>illusion</i> of an instant transfer. The wallet to wallet part is instant.<p>But to de-tokenize USDC back into more universally accepted USD fiat comes with restrictions, delays and fees.<p>So if someone needs fiat now to pay bills, this full circle overall payout process is just a roundabout way of doing an ACH USD transfer --- albeit one that tickles the fancy of crypto fans while Coinbase receives transaction fees.","title":null,"type":"comment","url":null},{"author":"imtringued","children":[],"created_at":"2022-09-24T09:57:49.000Z","created_at_i":1664013469,"id":32961138,"options":[],"parent_id":32945295,"points":null,"story_id":32945295,"text":"&gt;Recipients paid in crypto must be individuals or sole proprietors. Paying companies and non-profits in crypto is not currently supported.<p>Ok so nobody will realistically use this?\nI mean I wouldn&#x27;t choose a payments solution that locks me out of growing my company.","title":null,"type":"comment","url":null}],"created_at":"2022-09-22T22:11:39.000Z","created_at_i":1663884699,"id":32945295,"options":[],"parent_id":null,"points":28,"story_id":32945295,"text":null,"title":"Stripe Crypto Payouts","type":"story","url":"https://stripe.com/docs/connect/crypto-payouts"}