Crypto payments

This topic has 3 replies, 3 voices, and was last updated 1 week ago by Tom.

Post

- April 29, 2024 at 1:32 pm
- Quote
Patrick Kunz
Keymaster

Hey Treasurer’s,

do you accept crypto as a payment method ?

if yes, how did you implement it ?

and do you hedge it ? But how to deal with refunds (if you sold the crypto but later need to refund the customer their crypto money but you don’t have it anymore)

Treasury for champions

Viewing 3 replies - 1 through 3 (of 3 total)

Replies

- May 3, 2024 at 6:38 pm
- Quote
Jessica
Moderator

It’s not an option we currently explore at the moment but we are definitely working on integrating this innovation in the near future.
Especially with Siemens issuing a pioneering digital bond on a public blockchain, which slashed their time-to-market from eight days to just two!

This shows the possibilities for streamlining our own Treasury operations and speeding up critical processes.

With this bond issuance I believe they would have set up a crypto payment structure to match repayment for the bond as well.
- July 19, 2024 at 9:44 pm
- Quote
Tom
Participant

In my previous job we implemented crypto payments. The decision was made when we got into selling NFT’s. We looked at a few platforms and settled with Coinbase as the platform which was fairly easy to use and set up. Business was a consignment business so we did not hedge. We would convert our piece of the payment as quickly as possible once a payment came in to USD and we required the seller to take their portion in the crypto currency we received.
We did a lot of work up front to make sure we could identify the buyers and their wallets, and we did send back some payments to the wallet it came from when we could not tie it to seller.
- July 19, 2024 at 9:44 pm
- Quote
Tom
Participant

In my previous job we implemented crypto payments. The decision was made when we got into selling NFT’s. We looked at a few platforms and settled with Coinbase as the platform which was fairly easy to use and set up. Business was a consignment business so we did not hedge. We would convert our piece of the payment as quickly as possible once a payment came in to USD and we required the seller to take their portion in the crypto currency we received.
We did a lot of work up front to make sure we could identify the buyers and their wallets, and we did send back some payments to the wallet it came from when we could not tie it to seller.