SAP Digital Currency Hub
SAP Digital Currency Hub enables enterprises making and receiving payments with digital currencies - 24/7, instant, globally. secure at low fees. SAP Digital Currency Hub thus enables SAP customers to make/receive payments without boundaries and is particularly suited for cross-border payments.
SAP is introducing SAP Digital Currency Hub as an early adoption release enabling payments without boundaries – making payments instant, available 24/7 globally and secure at low fees.
SAP Digital Currency Hub enables customers making and receiving payments with stablecoins, one form of digitized money being represented as tokens on a public blockchain.
Today, executing and reconciling B2B stablecoin payments and accounting for such payments need a lot of manual effort. Paying supplier invoices or receiving customer payments in stablecoins can be automated by integrating the SAP Digital Currency Hub with SAP ERP systems.
In a co-innovation project, an SAP customer initiated a stablecoin payment by integrating their core SAP ERP system with the SAP Digital Currency Hub.
Overview
SAP Digital Currency Hub enables you to make payments to your suppliers and to receive payments from your customers using stablecoins, an electronic form of money allowing 24/7 instant settlement at low costs globally.
- Initiate payments with stablecoins – manually or through an open set of APIs
- Reconcile and account for incoming stablecoin payments automatically by receiving a standard bank statement
- Convert between FIAT currencies and digital currencies by connecting to an exchange
- Optionally manage an own crypto wallet thus avoiding any intermediary
Watch the overview video for more information about the solution's capabilities.
Benefits
Payments without traditional banking hours
- Payments can be made anytime, 24/7
- Transactions are processed instantly
- Lower transaction costs even for global transfers
- Complete transparency
- Reduced counterparty risk
- No risk of fraudulent chargebacks
Enterprise Integration
- Fully automated payment processes
- Accurate accounting
- Visibility of digital currencies within S/4 HANA cloud cash management
- Intermediary optional for peer-to-peer enterprise payments
- Quick setup typically within a few days
Access the product presentation to understand the concept overview of the SAP Digital Currency Hub.
Features
Management of accounts
- Getting an overview of your digital currency holdings by crypto asset and blockchain network
- Providing account statements for stablecoin transactions in a standard format (CAMT.053) for import into the financial system
- Achieving transparency and auditability of transactions by referencing the blockchain transaction
Management of payments
- Make stablecoin payments to suppliers
- Monitor the blockchain for expected incoming payments from customers
- Transfer funds to and receive funds from an exchange for FIAT conversion
Support for multi-currencies and networks
- USDC and PYUSD preconfigured for instant use
- Support for Ethereum and Polygon blockchain as settlement layer
- Further stablecoins following ERC-20 standard can be added upon request
Valuation of crypto currencies
- Valuate native crypto currencies like Ether or Matic that are required to pay the network fee for validating crypto transactions
Management of crypto-wallets
- Create dedicated wallets per business partner to better reconcile incoming payments
- Separate wallets for holding stablecoins and receiving stablecoin payments
- Manage wallets in self-custody or interface to a payment processor
Watch the product demo for additional information on its features.