OnePay launches stablecoin deposits for US checking customers with self-custody wallet requirements and conditional credit terms.
DeFi & Yields ·
OnePay began accepting stablecoin deposits on October 30, 2026, for qualified U.S. checking customers, enabling them to fund accounts using USDC across 12 blockchains including Solana, Ethereum, Base, and Tempo. The service carries no conversion fees at launch, with deposits typically appearing within moments. Incoming stablecoins are converted to dollar balances and processed via Bridge, Stripe's stablecoin infrastructure platform, which handles compliance verification and currency conversion.
The program enforces strict origination requirements: transfers must originate from wallets that depositors themselves own and control, with no third-party senders permitted. OneProgress, OnePay's operating entity, does not take custody of the stablecoins; Bridge assumes title upon receipt. The customer agreement allows early dollar credits to be reversed if settlement fails and assigns depeg losses to the customer. Blockchain confirmation times and Bridge's discretionary compliance reviews may delay access to funds.
Several structural uncertainties persist. The agreement permits OneProgress and Bridge to modify the list of supported assets and networks without notice, and deposits sent to unsupported addresses or networks cannot be recovered. Users must already hold an active OnePay deposit account in good standing and pass Bridge's verification checks, with access also contingent on Bridge's authorization to operate in their state. Each customer may maintain only one Stablecoin Account.