Question 1

Stage 1: What happens at the on-ramp?

Accepted Answer

The payer funds the transfer in their own currency and a licensed on-ramp or exchange converts that fiat into a stablecoin. Illustrative examples of this type of provider include BVNK and Stripe.

Question 2

Stage 2: What compliance checks are run?

Accepted Answer

Sanctions screening and Travel Rule checks are completed before any tokens move on-chain, so a blocked transfer never reaches the blockchain leg. Illustrative examples of this type of provider include Notabene and Elliptic.

Question 3

Stage 3: How does the blockchain leg settle?

Accepted Answer

The stablecoin transfer settles on a public network such as Ethereum, Polygon or Solana, typically in seconds. The token issuer, for example Circle for USDC or Tether for USDT, backs the token 1:1 in reserves.

Question 4

Stage 4: How is the stablecoin converted back to local currency?

Accepted Answer

An off-ramp provider receives the stablecoin and converts it into the recipient's local currency. Yellow Card is an illustrative example of this type of provider.

Question 5

Stage 5: Where do the funds finally land?

Accepted Answer

Settled funds are paid into an ordinary local bank account or a mobile-money account, so the recipient does not need to hold or manage any crypto. A local partner bank, or a route such as MoneyGram via Stellar, are illustrative examples.

Question 6

What does the worked corridor look like?

Accepted Answer

A UK marketing agency sends GBP, which is on-ramped into USDC. The transfer settles on a public blockchain, is off-ramped into BRL on arrival, and is paid into the local account of a freelancer in Brazil. That endpoint role is played by a StableCoinTest Network Partner in the proof of concept.

Question 7

What is a StableCoinTest Network Partner?

Accepted Answer

A verified Network Partner who will provide the endpoints for the final three stages of the corridor, so the flow is designed to be evidenced end to end with real accounts rather than modelled on paper.

Question 8

Which endpoints does a Network Partner provide?

Accepted Answer

Three: an on-chain wallet that can receive the stablecoin leg (stage 3), an account with an off-ramp provider that converts stablecoin into local currency (stage 4), and a local bank or mobile-money account that receives the settled funds (stage 5).

Question 9

Does a Network Partner need to hold crypto long term?

Accepted Answer

No. The stablecoin is received and off-ramped as part of the corridor run. The purpose of the wallet is to prove the blockchain leg reaches a real endpoint, not to hold a position.

Question 10

How do I express interest in taking part?

Accepted Answer

Get in touch through our contact page. We will explain the current status of the proof of concept, what is expected of a Network Partner, and the checks involved before any corridor run.

Question 11

What is the stablecoin corridor proof of concept?

Accepted Answer

It is a single, end-to-end cross-border payment designed to be proven in practice: fiat is converted into a stablecoin, compliance checks are completed, the transfer settles on a public blockchain, and the funds are converted back into local currency and paid into a local account. The worked corridor is designed around the United Kingdom to Brazil.

Question 12

What are the five stages of the corridor?

Accepted Answer

On-Ramp converts fiat into stablecoin. Compliance completes sanctions screening and Travel Rule checks before tokens move. Blockchain settles the transfer on a public network with the token backed 1:1 by its issuer. Off-Ramp converts the stablecoin into local currency. Settlement pays the funds into a local bank or mobile-money account.

Question 13

Where do compliance checks happen?

Accepted Answer

Sanctions screening and Travel Rule checks are completed at stage two, before any tokens are moved on-chain. Screening the transfer before settlement means a blocked payment never reaches the blockchain leg.

Question 14

What does a StableCoinTest Network Partner do?

Accepted Answer

A verified Network Partner will provide the endpoints for stages three to five: an on-chain wallet, an off-ramp account, and a local bank or mobile-money account. That is designed to let the corridor be evidenced end to end with real endpoints rather than modelled on paper.

Question 15

Are the provider names on this site partnerships?

Accepted Answer

No. Every provider named on this site is an illustrative example of the type of service used at that stage of the corridor. Naming a provider does not imply a partnership, integration or endorsement.

Question 16

Which networks and tokens are referenced?

Accepted Answer

The proof of concept references public networks including Ethereum, Polygon, Solana and Stellar, with USDC (Circle) and USDT (Tether) as the stablecoins. The worked corridor uses USDC as the transfer token.

Question 17

Which corridors are live today?

Accepted Answer

The proof of concept covers one corridor, from the United Kingdom to Brazil. Other regions shown on this site are indicative of where a corridor could be extended; each additional corridor needs its own on-ramp, off-ramp and compliance coverage.

Question 18

How do I find out more?

Accepted Answer

Get in touch through our contact page and we will share the current status of the proof of concept and what taking part as a Network Partner involves.

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