SAP Digital Currency Hub FAQ
This FAQ page provides answers to common questions about stablecoin payments and the SAP Digital Currency Hub.
SAP Digital Currency Hub
What is a stablecoin?
A stablecoin is a type of cryptocurrency where the value is pegged to a reference asset typically a FIAT currency.
Which stablecoins do you support?
Currently the solution supports USDC and PYUSD as part of the standard delivery. Further stablecoins which comply with ERC-20 token standard can get added upon request.
Which blockchains can I use?
The SAP Digital Currency Hub supports Ethereum and Polygon.
How do you account for stablecoins?
We treat stablecoins as a cash equivalent and create an account statement following the CAM-53 standard for all stablecoin transactions.
What is a gas fee?
Gas fee is a term used for the fee that a blockchain user needs to pay to network validators when performing a transaction on the blockchain. SAP Digital Currency Hub refers to gas fee as network fee.
How do I pay the gas fee?
You need to load at least one wallet with the native currency of the blockchain network, Ether in the case of the Ethereum blockchain and Matic in case of the Polygon blockchain.
What is a wallet?
Cryptocurrencies exist on the blockchain as a public key address. The crypto wallet holds the corresponding private key and enables the user to make a transaction. Wallets are either controlled by the user (self-custody wallet) or by a third party as custodian (custody wallet). SAP Digital Currency Hub uses self-custody wallets for all operational incoming and outgoing payments. However, the customer may use a custody wallet to hold the cryptocurrencies when not transacting.