Business basics

Accepting stablecoins on Sui: a plain-English guide for small businesses

By Sui Harbor · Facts checked Oct 22, 2026 · Education only, not financial advice

Short version: A stablecoin is a digital token built to stay worth one US dollar. On Sui, a customer can send one straight from their wallet to yours, and it lands in seconds. That part is simple. The work for a business is everything around it: which coin you take, how you record it, how refunds work, and what to ask your accountant. This guide walks through each one. It isn’t advice to start accepting crypto, and it isn’t tax or legal advice.

Read this first. Payments on a blockchain can’t be reversed by a bank. If you send money to the wrong address or to a scammer, there’s usually no one who can pull it back. Go slowly, test with small amounts, and never share a recovery phrase with anyone, including “payment processor support.”

What a stablecoin is (and which ones are on Sui)

A stablecoin is a token that a company issues and backs so that one token is meant to be worth one dollar. It’s different from SUI, the Sui network’s own token, whose value moves around.

Dollar stablecoins you’ll see on Sui include:

USDC, issued by Circle. “Native” USDC has been on Sui since 2024.
USDsui (Sui Dollar), issued by Bridge, a Stripe company. It went live on Sui in March 2026, and Slush was among the wallets supporting it at launch.

Watch the exact coin, not just the name. Older “bridged” or “wrapped” versions of USDC exist on Sui too (sometimes shown as wUSDC). Sui’s own announcement warned people not to send the bridged version to exchanges that expect native USDC. Before you accept anything, decide which specific coin you take and check its official details in your wallet.

How a payment actually works

You give the customer your Sui address, a QR code or a .sui name (a readable name like yourshop.sui, also shown as @yourshop, that points to your address).
The customer sends the stablecoin from their wallet.
It shows up in your wallet, usually within seconds. The network fee is small, and some apps pay it for the customer.
You check that the right amount, the right coin and a real transaction arrived. You can look it up on a public Sui explorer.

No bank or card network sits in the middle. That’s why it’s fast, and also why there’s no chargeback.

Wallet and setup basics

Use a separate wallet for the business. Don’t mix it with personal crypto. That makes your records far cleaner.
Pick how you’ll sign in, and back it up. A wallet with a recovery phrase means storing that phrase offline. A Google, Apple or passkey wallet means locking down that account. See Wallets without a seed phrase.
Think about two-person control. Sui supports multisig, where moving money needs approval from more than one key, like two owners each approving.
Some providers handle the crypto side for you. Some payment companies take stablecoins and pay you out in dollars. Ask them who holds the money in between, what they charge, and how payouts reach your bank.
Test first. Send yourself a small amount before your first real customer.

Record keeping

Treat every payment like a sale you’d ring up anyway. For each one, write down:

the date and time
the customer or invoice number
the coin (USDC, USDsui and so on) and the amount
the transaction ID (sometimes called a digest), which proves it happened
what it was for
the dollar value when you received it, and where you got that number

Keep a list of your business wallet addresses too. Export your wallet history regularly, because a wallet app isn’t an accounting system. If you convert stablecoins to dollars, record that as a separate event with its own date and fees.

Refunds

There’s no “reverse charge” button. A refund is a new payment you send back.

Write a refund policy before you need one, and decide whether refunds go back in the same coin or another way.
Send refunds only to an address the customer confirms in writing. Don’t just reply to whatever address the original payment came from, because it might belong to an exchange.
Record each refund with its own transaction ID and link it to the original sale.
Keep in mind that the network fee on the refund is yours.

Scam red flags

The overpayment trick. “I sent too much, please refund the difference.” Check your wallet yourself, not a screenshot. Often nothing extra arrived, or it came in a fake coin.
Fake coins. Anyone can create a token called “USDC.” Check that it’s the official coin your wallet recognizes, not just the name.
Screenshots instead of payments. A screenshot of a “sent” screen proves nothing. Wait until it’s in your wallet.
“Support” or “processor” DMs asking you to “verify” or “connect” your wallet, or to share a recovery phrase or a sign-in code. That’s a scam every time.
Address swaps. An invoice email or chat message that suddenly shows a different wallet address. Confirm any address change by phone or in person.
Lookalike sign-in pages. See the phishing section in Wallets without a seed phrase.

Questions to ask your CPA before you start

How should I record stablecoin sales on my books, and at what dollar value?
Is converting stablecoins to dollars a taxable event for my business, and what do I need to track for it?
Do any 1099 or other reporting rules apply to me or to the payment provider I’m thinking about?
How do refunds and network fees show up in my records?
Does my state’s sales tax apply the same way to sales paid in stablecoins?
Should the business wallet be in the business’s name, and does my business structure change anything?
What records should I keep, and for how long?

Rules here are still changing (for example, the federal GENIUS Act for stablecoins), so get answers for your business from a professional.

Glossary help

New words in this guide, like stablecoin, gas, multisig and .sui name, are explained in plain English in the Sui Harbor glossary.

Disclosures

Sui Harbor is an independent education site. We are not affiliated with, endorsed by or sponsored by the Sui Foundation, Mysten Labs, Circle, Bridge or Stripe. This guide is for education only. It is not financial, tax or legal advice, and it isn’t a recommendation to accept or hold any crypto asset. The author holds SUI. Talk to a qualified accountant or attorney about your situation.