Choosing Between Two Stablecoins for a Business Account
The decision comes down to four practical questions, none of which is which one is safer in the abstract.
Felix Oduya · ·2 min read
Businesses usually choose between the two largest dollar stablecoins. The arguments that matter are practical rather than ideological.
Who will accept it
The first question and usually the last. If your customers, suppliers or payroll recipients can only receive one of them, the comparison is over.
Ask before deciding. Preference here is strongly regional and changes slowly.
Where it can be converted
Your route back to bank money is a property of your venue, and venues support different tokens on different networks with different limits.
A token your venue will accept on a cheap network, convert at a published rate and pay out to your bank is more useful than a marginally better-reported token that your venue handles awkwardly.
How the reserve is reported
Frequency, detail and who signs it. Both of the large issuers publish; the quality differs and the gap has narrowed.
Read the latest report from each rather than an argument about them from two years ago.
What it costs to move
Network support differs between issuers. If one is well supported on a cheap network and the other is not, that difference repeats on every transfer you make.
For a business making weekly payments this outweighs almost everything else in the list.
The question that is not worth your time
Which is safer in principle. Both are claims on companies holding mostly short-dated government debt, both have had periods of doubt, and neither has failed.
Your exposure is a function of how much you hold and for how long, far more than of which one.
The arrangement that avoids the choice
Hold neither, except in transit. Convert in, pay, convert out, and keep the balance measured in hours rather than weeks.
An exchange that treats stablecoins as a settlement asset supports that pattern directly. Collect & Exchange will also tell you which tokens and networks it settles, which turns this from a philosophical question into a checklist. If the answer still matters after that, a venue that lists the networks it supports has already made it for you.
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