Case Study
Acctual helps businesses go beyond borders with USDC
The opportunity
Companies are increasingly adopting blockchain-based payment solutions to enhance the efficiency of their money transfer processes. But, digital assets transactions do not always integrate seamlessly into existing accounting systems.
The solution
With Acctual, companies can easily integrate blockchain-based payments into their existing accounting workflows, making digital asset payments streamlined for businesses.
$12.5M
in USDC invoices; 50% of total transactions*
100+
countries transacting with USDC on Acctual*
Acctual makes it easy for businesses to pay and get paid with digital assets.
Products
Regions
Global
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Stopgap accounting solutions can be inefficient
Many companies use spreadsheets to keep track of digital asset payments, which meets their needs sufficiently. But, some accounting teams go to the trouble of manually bringing digital asset transaction and payment data into a general ledger system. This laborious process can take up to 50 hours a month to execute, draining accounting teams’ time and introducing more room for human error.
For those companies that seek to integrate stablecoin payments into their existing accounting workflows, Acctual provides a straightforward path to success.
Acctual bridges the gap
Founded in 2023, Acctual is a digital assets accounting solution that seamlessly integrates into existing accounting processes in only minutes. Their platform makes it easy for businesses to pay bills and receive invoices denominated in digital currencies using processes that accounting teams are already familiar with, like collaborative invoice management and multi-level approval flows.
Acctual’s digital asset accounting platform allows for crypto-to-crypto, fiat-to-crypto, and crypto-to-fiat transactions, giving businesses the ultimate flexibility in sending and receiving payments globally.
Acctual story
“We've seen stablecoin adoption grow more than anything else. The real world use cases have become more evident. It’s no longer speculation. It’s real life”
— Atikh Bana, Co-Founder, Acctual
USDC is Acctual’s top stablecoin
Shortly after launch, Acctual noticed that the majority of their clients were processing USDC transactions on their platform. As of October 2024, more than $12M in USDC — a number that accounts for more than half of all transactions on the platform — have been made using Acctual.
“USDC has become a universal currency of business on-chain,” says Atikh Bana, Co-Founder of Acctual.
Many clients use Acctual to expand into new markets and transact with remote workers and businesses in geographies with underdeveloped banking infrastructure, so USDC has organically become a preferred payment choice.
“USDC is a great option for B2B cross border payments because it’s faster and more flexible for remote workers and businesses globally,” says Bana. "The stability of using USDC becomes the default. It's the liquidity you'd have with a local currency, but with a premium and trusted stablecoin."
Global businesses deserve global solutions
Before integrating Acctual’s digital accounting solution, one Africa-based small business had to jump through a myriad of hoops and wait up to two weeks just to get the money they were owed from their international clients. With Acctual, that same Africa-based small business now receives USDC payments directly, almost instantly — even when the transaction is initiated in a local currency. But navigating labyrinth processes to send and receive money isn’t only a pain point for international businesses — it’s also a common problem for the remote workers they engage.
For example, according to Acctual, Africa-based freelancers, which make up 10.1% of the world’s freelance market, have reported that using traditional online payment services have reduced their earnings by up to 40%. By receiving USDC from businesses that use Acctual, those costs have come down to only 15%, returning much needed income into the hands of hardworking people across the continent.
USDC is paving the way forward for an equitable and efficient international payments model between businesses and remote workers worldwide.
The way forward is with USDC
By continuing to build out familiar accounting workflows and even more granular user controls for their clients, Acctual is betting that blockchain-based transactions will become more palatable to companies that are still on the fence. With its sights firmly set on being known as the most user-friendly digital asset accounting integration on the market, Acctual foresees that USDC will continue to play an essential role in the growth and development of their platform.
By the numbers
in USDC invoices; 50% of total transactions*
countries transacting with USDC on Acctual*
saved in fees by way of USDC and other digital assets*
We are big beneficiaries of USDC’s existence. It’s the product that people trust. It’s the brand people trust.”
Atikh Bana
,
Co-founder of Acctual
*The information contained herein is provided by Acctual as of September 23, 2024
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