Stablecoins: A Legal Solution for B2B Payments in France

Stablecoins are gradually establishing themselves as an alternative to traditional payments in the B2B world, with over $53 billion exchanged in 2023.

It is entirely possible to use stablecoins as a payment method for B2B transactions in France, offering several advantages over traditional systems:

• Near-instant transactions (compared to 2–5 days for SWIFT)
• Reduced transaction costs (40–80% savings on fees)
• 24/7 availability
• Complete transaction traceability
• No bank clearing delays
• Ease of international payments
• Automatic accounting reconciliation

Legal Conditions for Use

Stablecoins like EURCV or USDC can legally be used to settle invoices. Under French law, the invoice amount must be denominated in euros or another recognized currency. Payment can then be made in stablecoins, provided both parties agree on this method of settlement.

Legal Framework in France

• Article L54-10-1 of the Monetary and Financial Code defines digital assets and governs their use. (a stablecoin is an intangible asset representing a digital value);
• Article 1583 of the Civil Code states that a sale is concluded as soon as both parties agree on what is being sold and the price. The payment price can be a sum of money or even a tangible or intangible asset (such as crypto), as long as both parties consent.

Accounting Treatment

In accounting, stablecoins are treated as crypto-assets. Since 2018, businesses have been allowed to record their stablecoin holdings in dedicated accounts, separate from bank accounts. This allows companies to manage part of their treasury in stablecoins while complying with applicable accounting standards.

• The ANC Regulation No. 2018-07 of December 10, 2018, defines the accounting framework for crypto-assets.
• Stablecoins can be recorded under account 52, "Cash Instruments."
• The Accounting Standards Authority (ANC) recognizes the possibility of holding crypto-assets in a professional context.