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Before using stablecoin settlement services, eligible businesses should verify who provides each service, what the provider's terms and jurisdiction allow, and how records, controls and reconciliation will work. Confirm every point directly with the relevant financial institution or service provider, because availability, features and requirements vary by account, product and location.
This checklist is written for finance, treasury and operations teams doing pre-engagement due diligence. It separates what DogPay does from what financial institutions and affiliates do, and it flags items you must confirm rather than assume.
Section 1: Verify the roles behind the service
Start by mapping every party in the arrangement. DogPay is a digital finance and payment infrastructure platform, not the financial institution that provides a business account. The relevant financial institution provides and independently approves each account, and its opening documents determine account type, holder and terms. USD and supported stablecoin conversion or settlement and crypto payment gateway services are provided by DogPay affiliates to eligible customers, subject to provider terms, applicable law and geographical availability.
Copy-ready checklist fields: Service provider legal name and role (platform, financial institution, affiliate service) Which entity contracts with your business for each service Which entity approves and holds the account Which entity provides stablecoin conversion or settlement Governing terms and jurisdiction for each contract Escalation contact for each role
Section 2: Verify eligibility and account terms
Businesses may apply online for a US-dollar business account and Hong Kong or Singapore multi-currency business account options. Approval is not guaranteed, and no account approval, payment acceptance, fee, exchange rate, speed, coverage or business outcome is guaranteed. Read the opening documents for the account type, holder and terms, and confirm that stablecoin-related services are available to your entity in your jurisdiction.
Copy-ready checklist fields: Entity type and jurisdiction of your business Account option being applied for Eligibility criteria confirmed in writing Stablecoin service availability for your entity and location Provider terms version and date reviewed Internal approver sign-off
Section 3: Verify the control and records environment
After approval, available account features may include international collections, cross-border payments, currency management, transaction records, reconciliation and reporting. Actual currencies, payment rails and functions depend on the institution, account, product and jurisdiction. USD transfers may use ACH, SWIFT or Fedwire only where the relevant account and service arrangement support them. Ask how stablecoin settlement activity will appear in transaction records and how it reconciles to your ledger.
Copy-ready checklist fields: Where settlement activity appears in reporting Reconciliation owner and cadence Approval workflow for settlement instructions Access controls and segregation of duties Record retention policy Exception and dispute process
Section 4: Apply risk-based due diligence
The FATF guidance on virtual assets and virtual asset service providers (https://www.fatf-gafi.org/en/publications/Fatfrecommendations/Guidance-rba-virtual-assets.html) is a useful reference for structuring risk-based questions. Use it to frame your own questions about counterparties, monitoring and record-keeping, then confirm the actual requirements with your provider. Do not assume that a general guidance document describes any specific provider's controls.
Copy-ready checklist fields: Counterparty identification process Monitoring and review frequency Documentation of risk assessment Legal and tax review completed Internal policy reference
Section 5: Verify before you commit
Complete the checklist before signing or funding. Where any item is unclear, pause and request written confirmation. Treat verbal assurances as unverified.
Completion checks: Every role mapped to a contracting entity Account terms and stablecoin service terms reviewed Jurisdiction and availability confirmed in writing Records and reconciliation plan agreed internally Risk assessment documented and approved
FAQ
Who provides stablecoin settlement services? USD and supported stablecoin conversion or settlement and crypto payment gateway services are provided by DogPay affiliates to eligible customers, subject to provider terms, applicable law and geographical availability. Confirm the contracting entity with your provider.
Does DogPay provide the business account? No. DogPay is a digital finance and payment infrastructure platform, not the financial institution that provides a business account. The relevant financial institution provides and independently approves each account.
Are fees, speeds or coverage guaranteed? No. No account approval, payment acceptance, fee, exchange rate, speed, coverage or business outcome is guaranteed.
Which payment rails can USD transfers use? USD transfers may use ACH, SWIFT or Fedwire only where the relevant account and service arrangement support them.
Source and verification note
Official product page: https://dogpay.com/hk/global-bank. Permitted supporting source: FATF guidance on virtual assets, https://www.fatf-gafi.org/en/publications/Fatfrecommendations/Guidance-rba-virtual-assets.html. This article relies on the approved DogPay facts and the named source only; no other sources were consulted or implied.
Scope and limitations
This checklist is general information, not legal, tax or compliance advice. It does not describe any specific provider's controls, fees, speeds or availability. Actual currencies, payment rails and functions depend on the institution, account, product and jurisdiction. Confirm all requirements, terms and availability with the relevant financial institution or service provider before proceeding.
