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Intercompany settlement in stablecoins

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What is intercompany settlement in stablecoins?

Intercompany settlement in stablecoins is paying the amounts a group’s entities owe each other, usually after intercompany netting, with a stablecoin transfer between their wallets in place of a bank wire.

Group treasury teams use it to settle across countries at any hour, which shortens the time cash sits in transit at month end.

Goldsky watches every entity’s wallets and writes each settlement into your database beside the intercompany ledger; the netting, the approvals, matching each transfer to its netting run and the journal entries stay in your treasury system and ERP.

Who uses intercompany settlement in stablecoins?

Group treasury and controllership teams at multinationals, fintechs and stablecoin issuers that run several legal entities.

How intercompany settlement in stablecoins works

The diagram follows one netting cycle from each entity’s payables and receivables to the entry booked in both entities’ books. Your setup may differ.

Your business, step 1: Collect what entities owePayables and receivables per entity
Your business, step 2: Net the positionsOne net amount per entity
Your business, step 3: Stablecoin account providerApprove and sendDual approval, then a stablecoin transfer
Goldsky, step 5: TurboWatch entity walletsEvery entity’s addresses, kept live
Blockchains, step 4: Stablecoin settlesAt any hour, any day
Your business, step 7: Banking partnerRedeem into the entity’s bankConverted and paid by instant transfer
Goldsky, step 6: TurboLand each settlementA row beside your ledger
Your business, step 8: Match to the netting runWallets, amount and reference
Your business, step 9: Book it in each entityBoth sides of the intercompany entry
  • Goldsky
  • Your provider

How to settle intercompany balances in stablecoins

Your treasury system nets what each entity owes, your account provider sends the net amounts in a stablecoin, and a pipeline writes every transfer between entity wallets into your database beside the intercompany ledger. Your team matches each one to its netting run and books it in both entities.

What you’ll need

  • Goldsky Turbo
  • A treasury management system or ERP that runs your netting
  • Stablecoin accounts or wallets for each entity, with approval controls
  • A database beside your intercompany ledger
  • A list of each entity’s wallet addresses

  1. Collect each entity’s intercompany balances

    Netting starts from what every entity owes the others and is owed by them.

    Each entity’s payables and receivables for the cycle are gathered into one system, usually your treasury management system or ERP. The netting is only as complete as the records collected here.

  2. Net the positions

    Netting turns many invoices between entities into one payment per entity, which cuts the number and cost of transfers.

    Your treasury system offsets each entity’s payables against its receivables, and each entity pays or receives one net amount through a central netting center. Those net amounts, and who pays whom, are what the transfers have to match.

  3. Approve and send the net amounts

    Moving group cash needs the same controls as a bank payment.

    Authorized operators start each transfer in the stablecoin account and a second person approves it, keeping duties separate. Send each payment between the two entities’ own wallets, so every transfer traces back to the entities it settles.

  4. Settle onchain

    A stablecoin transfer settles at any hour, weekends and bank holidays included, so cash lands the day it’s sent.

    For a short time the newest blocks can be replaced in a reorg (the chain rewriting its most recent blocks). Treat the funds as received once the transfer has the confirmations your policy asks for.

  5. Keep a live list of entity wallets

    Handled by Goldsky Turbo

    Only transfers between your own entities are intercompany settlements, so the watch list is the set of entity wallets.

    Record each wallet with the entity it belongs to, and add new wallets the day they open. A wallet missing from the list means its settlements never reach the ledger.

    With Goldsky, the wallet list sits in a Turbo Pipelines dynamic table, which lives in a Postgres database, so the running pipeline picks up a new wallet as soon as you add it, with no redeploy.

    Watch wallets with dynamic tables (opens in a new tab)

  6. Record every settlement beside the ledger

    Handled by Goldsky Turbo

    Matching is easiest when each transfer sits in the same database as the intercompany ledger.

    Each transfer between entity wallets has to arrive once, with its token, amount, sender, recipient and transaction hash, and change if a reorg changes it. Transfers known only from one provider’s statement leave out wallets held anywhere else.

    A Turbo Pipelines SQL transform keeps stablecoin transfers where both sides pass dynamic_table_check() and writes them to a database table keyed on id, so reorg corrections update the same rows.

    Filter transfers with dynamic tables (opens in a new tab)

  7. Redeem into the receiving entity’s bank account

    Most entities pay their bills in local currency, so the receiving entity often turns the stablecoins back into bank money straight away.

    Your banking partner redeems the stablecoins and pays the entity’s account, by instant transfer where the currency has one. Keep the redemption reference with the settlement, so treasury can match the bank credit to the transfer it came from.

  8. Match each transfer to its netting run

    Treasury needs to see that every net amount was paid in full, by the right entity, to the right entity.

    Match on the paying and receiving entity, the amount and the cycle, and use your account provider’s payment reference where it has one. A transfer with no match, or a short payment, goes to an exception queue for the treasury team.

  9. Book the settlement in each entity

    Both entities’ books have to show the payment, or the intercompany balances won’t cancel out when the group consolidates.

    Your treasury system or ERP posts the settlement to the paying and the receiving entity from the same matched row, and shows the stablecoin balances and transactions beside the bank accounts. Booking both sides from one record, with the transaction hash as its reference, keeps the two entities’ intercompany accounts in agreement.

What you control

Your team
  • Collect each entity’s intercompany balances
  • Net the positions
  • Match each transfer to its netting run
  • Book the settlement in each entity
Your providers
  • Stablecoin account provider
  • Banking partner

Security and deployment

  • SOC 2 Type IIIndependently audited security controls.
  • Dedicated infrastructureSingle-tenant options for production workloads.
  • Data residencyCloud, on-premises or co-located.

More use cases that manage treasury

Use cases built the same way

Settle intercompany balances in stablecoins with Goldsky

We’ll map it to your systems and show you what Goldsky runs, so your team builds the product, not the pipelines underneath it.

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