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How 56 works
- 1
You send an invoice
In your dashboard, click New invoiceand add your client's name and the amount in USD. We give you a payment link they can pay by card, bank transfer, or USDC.
- 2
Your client pays
Card payments clear in minutes. SEPA bank transfers settle in 1 to 2 business days. ACH transfers settle in 1 to 3 business days. USDC arrives in minutes.
- 3
Your dollars land in your 56 account
Every paid invoice shows up in your dashboard and adds to your Credit Identity. Whenever you choose, convert your dollars to pesos and withdraw to your Philippine bank or e-wallet straight from your dashboard.
Common questions
How long until a payment lands in my 56 account?
Depends on the rail your client used. Card payments clear within about 2 minutes. EUR SEPA Instant is usually under 10 seconds. USD ACH push settles in 1 to 3 business days. Direct USDC arrives in a few minutes on Base.
How do I withdraw to my Philippine bank, and what does it cost?
Withdrawals to PHP banks and e-wallets (GCash and similar) are live: convert your dollars to pesos and send them from your dashboard. The exact cost and the peso amount you will receive are always shown before you confirm.
What is my Credit Identity, and why does it matter?
Every invoice your clients pay through 56 is recorded as proof of business income. Filipino banks usually don't see the dollars your business earns from clients abroad, which makes it hard to qualify for credit. Your 56 dashboard shows your full payment history in one place, so when your business applies for a loan or credit one day, you have something to show.
How do I connect my account to Upwork or another platform?
Open your account details on the dashboard Home and pick US dollars. In the platform's payout settings, choose direct deposit to a US bank (sometimes called ACH), then copy each field across: the account holder name exactly as shown, the ACH routing number, and the account number. If the form asks whether it's a checking or savings account, pick checking. Payouts the platform sends land in your 56 balance as dollars, usually within minutes of the platform releasing them.
Why do you need my ID? Who actually verifies it?
We're required to verify identity by financial regulations (KYC). The verification itself is done by a licensed identity partner. Your government ID and selfie go directly to that partner over an encrypted connection; 56 never stores the images.
How is my balance held?
Your balance is held as USDC, a stablecoin designed to hold the value of one US dollar, in custody with licensed partners, and we show it to you in dollars. Money that lands through your receiving accounts is converted when it arrives. A balance held as USDC is not a bank deposit and is not covered by deposit insurance; its value depends on the stablecoin's issuer holding full reserves, and that risk is passed through to you. 56 itself does not hold your funds; we coordinate the chain between you and the licensed partners.