[Crypto Radar] Stablecoins Make Inroads Into Corporate Finance... On-Chain Payments Gain Ground

ERP and blockchain connected via API
USDC and EURC payments integrated
"On-chain integration eases accounting burdens"

Stablecoins are expanding their use in corporate accounting and treasury management systems. When a company approves a payment through the business software it uses every day, funds are transferred via blockchain, and the transaction result is then reflected in its accounting records. Following the emergence of real-world applications for paying suppliers and transferring funds between affiliates, infrastructure development and technology trials are also underway for settling trade payments and making cross-border corporate remittances.

According to financial industry sources on Oct. 16, global software company SAP recently announced that it would launch SAP Pay, a payment feature embedded in its cloud-based enterprise resource planning (ERP) system. The service will be provided through SAP subsidiary Tereina and will allow companies to handle payments and accounting reconciliation within their existing workflows after approving invoices in their ERP systems.

Tereina plans to work with Circle, the issuer of the U.S. dollar stablecoin USDC. SAP Pay will enable companies to use USDC and the euro stablecoin EURC as payment methods. USDC will be the preferred option for dollar-denominated payments, while EURC will be offered as an option for euro-denominated transactions. The two companies plan to conduct joint trials with customers over the coming months.

Corporate payment operations generally involve checking supplier invoices in an ERP system, approving payments, and then sending payment instructions to a bank or separate payment system. Once a payment is completed, transaction details are received and entered into the ERP system, where accounts payable are reconciled against actual withdrawals. SAP Pay is designed to combine these steps into a single workflow while supporting stablecoin-based settlement in addition to bank transfers and cross-border remittances.

The ERP system and stablecoin payment infrastructure are connected through an application programming interface (API). When a company approves a payment in its ERP system, the payment provider receives the instruction and executes the stablecoin transfer. Once the transaction is confirmed on the blockchain, the result is sent back to the ERP system. In this process, the blockchain does not replace a company's accounting system; rather, it serves as a separate infrastructure for fund transfers and settlement. The ERP system retains records such as invoices, payment approvals, and supplier information, while the blockchain records stablecoin transfers.

Efforts are also emerging in South Korea to use stablecoins in business-to-business (B2B) transactions. In August 2026, digital asset custodian BDACS agreed to jointly develop stablecoin-based infrastructure for trade payment and settlement with Devall Company (now Korea Bond Data), which operates Cheongguseu, a service that automates billing and collections between companies. The plan is to allow exporters to issue invoices to overseas buyers, who would pay in USDC or USDT, for example, and enable the exporters to receive the proceeds in Korean won.

Banks have also conducted technology trials to integrate blockchain settlement into corporate cross-border remittance procedures. Shinhan Bank announced that it had completed a technology trial of stablecoin-based cross-border remittances for businesses in late September 2026, in cooperation with the Solana Foundation. Companies would continue using their existing corporate banking services and foreign currency accounts without needing separate digital asset wallets, while the bank would handle fund transfers and settlement using stablecoins.

A financial industry official said, "In practice, what matters is not simply that stablecoins were used, but whether suppliers were paid correctly and whether the payments were reflected in companies' accounting records." The official added, "Linking payment information with on-chain settlement results can reduce the workload involved in confirming payments and reconciling accounts."

This content was produced with the assistance of AI translation services.