How can I receive a stablecoin?

To receive stablecoin, you first need to create a channel. Channels are unique, static digital wallet addresses linked to your account, and you can set up a different channel for each payer you are expecting to receive stablecoin from so you can easily reconcile the funds.

When a channel is created for either USDC or USDT, a unique wallet address is generated for each protocol we support. If you would like to know more about the protocols available, please contact the Freemarket support team.

Creating a new channel

1. To create a new channel and wallet, go to the ‘Balances’ page and select the stablecoin you are looking to receive. Click the ‘Receive Digital Assets’ button located on the right-hand side of the screen.

2. Scroll to the ‘Add a partner’ section of the page and enter the name of the payer you will be receiving stablecoins from in the ‘Partner Name’ box. Click the green ‘Add partner’ button.

3. A unique channel will be created for this partner (this should only take a couple of minutes). Once completed, the page will update with the available protocol wallet addresses. To copy the wallet address, click on the green copy icon on the right-hand side for the relevant protocol.

View existing channels

1. To view an existing channel, navigate to the ‘Balances’ page and select the stablecoin you want to view. Click the ‘Receive Digital Assets’ button.

2. All your active channels and their wallet addresses will be displayed on this page. You can also view the channels and wallet addresses of the other stablecoin by selecting it from the ‘Select Currency’ drop down list.

What happens next?

When stablecoin is received into one of your wallets, it will automatically be applied to your balances in the Freemarket portal. Within the ‘Comments’ column on the Balances screen, the ‘Partner name’, that was input when the channel with the associated wallet was first created, will be displayed as the reference so that you can easily reconcile who you have received the stablecoin from.

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