Import businesses paying suppliers in Asia: USDT or local currency?
An importer in Lagos, Accra or Nairobi buying from suppliers in India, Indonesia, the Philippines, Thailand or China — when the supplier wants rupees or baht to a bank, and when they want USDT to a wallet, and how both work from one Storspay account.
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The short answer. Pay a supplier’s bank in India, Indonesia, the Philippines or Thailand at 1% all-in (minimum US$2), usually within minutes; pay a supplier who invoices in USDT to their wallet address from your USDT balance for the network fee. Fund either from the local currency you collect through Get paid.
Two kinds of supplier
A registered manufacturer with a bank account usually wants local currency to that account, with an invoice and a purpose code. A trading agent or a smaller supplier in a hub city often asks for USDT because it is what they move fastest. Storspay does both from the same balance bar.
Local currency to a bank
Run Payroll pays a rupee, rupiah, peso or baht account at 1% all-in (minimum US$2), usually within minutes, with the invoice number in the reference. The supplier’s bank may ask them for the purpose of the payment; keep the Storspay receipt with the invoice on your side.
USDT to a wallet
Add the supplier as a “Wallet address” recipient — USDT on Tron is what most Asian suppliers use — and pay from your USDT balance for the network fee, or from US dollars at 0.75% all-in. Confirm the address with the supplier on a second channel before the first payment.
Funding the payment
Collect naira, cedis or shillings from your own customers through Get paid, credited to your US dollar balance at 2% all-in; convert to USDT only for the suppliers who ask for it. Nothing is converted until you decide.
How it works, in four steps
- Apply once. A verified business on a paid Storspay plan applies from the Exchange tab: a few questions about what it will trade and why, a one-time identity check for a director, the wallets it plans to use. Reply within one business day.
- Receive or convert. A client sends USDT or USDC to the address in your business name, or you convert dollars or euros from your balance at 0.75% all-in.
- Trade or hold. Keep the balance, convert between USDC and USDT at 0.25%, or trade with other verified businesses on the P2P market — taker 0.5%, makers free, settled the instant the buyer confirms.
- Cash out or send. Pay your local bank or mobile money the same business day at 2% all-in, or send to any wallet address for the network fee only.
What it costs
| Step | Fee |
|---|---|
| Receive USDC or USDT | Free |
| P2P market — taker | 0.5% (makers free) |
| Convert US dollars or euros ⇄ USDC or USDT | 0.75% all-in |
| Convert USDC ⇄ USDT | 0.25% |
| Send to a wallet address | Network fee only |
| Cash out to a local bank or mobile money | 2% all-in (1% · min US$2 to India, Indonesia, the Philippines and Thailand) |
Who this is for — and who it is not for
Businesses, and a sole trader counts: every movement is a business transaction with an invoice, a contract or work delivered. Traders are welcome as businesses and should expect what the page says plainly — verified counterparties, instant settlement and a cash-out to their own business account, not the tightest spread on the internet. Personal accounts, gifts and family transfers are not what this is.
Keep your invoices and statements for your records and ask a local accountant how income in digital dollars is taxed where you live.
Read next
- Storspay Exchange — hold, convert and trade digital dollars
- Digital dollars for African businesses
- Storspay Exchange vs P2P exchange apps
- Can a freelancer hold USD, EUR, GBP or CAD?
Storspay Exchange is in early access — apply from the Exchange page. Fees and availability are as published there on the day you read this.
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