USD Wallet

What is a USD Wallet?

A USD wallet is a digital account for receiving, storing, and sending U.S. dollars—without needing a U.S. bank account. Used by global contractors and remote teams, it speeds up payments and avoids forced currency conversion.

How USD Wallets Work

USD wallets are virtual dollar-denominated accounts provided by fintech platforms or licensed U.S. institutions. Core features include:

• Instant payouts – Receive USD in minutes

• Store USD – No forced conversion to local currency

• Withdraw anywhere – Send to banks, cards, or crypto wallets

• Global access – Contractors in LATAM, Africa, or Asia can use without local banking

Example: SigmaRemote helps a Kenyan developer receive USD directly into their wallet, avoiding local bank delays and exchange markups.

Why USD Wallets Matter

USD wallets deliver four major benefits:

• No FX fees – Save 2–4% per transaction

• Speed – Instant funds, not multi-day delays

• Control – Choose when to convert

• Stability – Shield against local currency depreciation

They’re especially valuable in emerging markets with inflation or capital controls.

Example Use Case

A Nigerian developer earns $2,500 monthly through SigmaRemote’s USD wallet.
By skipping a 3% FX fee, they save ~$75 per payout—or $900 annually. They can hold USD or convert to Naira when exchange rates are favorable.

Related Glossary Terms

• FX Fees

• Stablecoin Payroll

• Cross-Border Compliance

• Global Payroll

Explore More

Try SigmaRemote’s USD Wallet →
Learn how we compare to Payoneer →
Read our LATAM Hiring Guide →