Convert USDT to USD for Business in Peru (2026)

Key takeaways

Article 64 of Peru's Constitution guarantees the free holding and disposal of foreign currency, so a company may keep the dollars from a stablecoin conversion in Peru or abroad.
Supreme Decree 006-2023-JUS added virtual asset service providers to the entities that report to the UIF-Perú, and SBS Resolution 02648-2024 sets the anti-money laundering rules they must follow.
SBS Resolution 02648-2024 excludes digital representations of legal tender from its definition of virtual assets without saying whether dollar stablecoins fall inside that exclusion.
Under the bancarización law, payments above S/2,000 or US$500 must use a medio de pago, and a stablecoin transfer is not on the list of qualifying means of payment.
SUNAT has not published specific tax rules on crypto assets, so the treatment of a company's stablecoin receipts and conversions is agreed case by case with its accountant.
BBVA Perú publishes an incoming transfer fee for companies of US$25.00 up to US$10,000, which applies when converted dollars are wired from abroad to its dollar accounts.

Is it legal for a Peruvian company to convert USDT to USD?

Yes. Peru does not license crypto assets themselves. It supervises the businesses that exchange, transfer and hold them, and it leaves foreign currency free. Article 64 of the 1993 Constitution states that the State guarantees the free holding and disposal of foreign currency, so a Peruvian company may receive dollars from a stablecoin sale and keep them, in Peru or abroad.

The supervision sits with the Unidad de Inteligencia Financiera del Perú (UIF-Perú), the financial intelligence unit within the Superintendencia de Banca, Seguros y AFP (SBS). Supreme Decree 006-2023-JUS added virtual asset service providers, known in Spanish as PSAV (proveedores de servicios de activos virtuales), to the list of entities that must report to the UIF-Perú. SBS Resolution 02648-2024, dated 30 July 2024 and published on 1 August 2024, set the anti-money laundering rules they must follow.

USDT (issued by Tether) and USDC (issued by Circle) are stablecoins: digital tokens designed to hold a steady value of one US dollar each. They are not dollars, and selling them is a sale of a crypto asset, not a currency exchange at a bank.

Source	What it says	What it means for a company
Constitution of 1993, Article 64	The State guarantees the free holding and disposal of foreign currency	The company may keep the dollars it receives, in Peru or abroad
Supreme Decree 006-2023-JUS	Adds virtual asset service providers to the entities that report to the UIF-Perú	Providers serving Peruvian companies are anti-money laundering subjects
SBS Resolution 02648-2024	Covers persons or companies domiciled or incorporated in Peru that, as a business, exchange virtual assets for legal tender or other virtual assets, transfer them, hold them in custody or provide related financial services	A Peruvian platform must identify the company and its beneficial owners, keep records and report suspicious operations
SBS Resolution 02648-2024, definition	Virtual assets are digital representations of value that can be traded or transferred digitally and used for payments or investment, excluding digital representations of legal tender	Ask the provider how it classifies USDT and USDC under this definition
SBS Resolution 02648-2024, Chapter VIII	Rules on transfers of virtual assets, including sender and recipient information, take effect two years after publication	Expect providers to ask for counterparty details on transfers from August 2026

Sources: Constitución Política del Perú de 1993, Article 64; SBS Resolution 02648-2024 (El Peruano, 1 August 2024); Cuatrecasas, summary of the SPLAFT rules for PSAV. As published on 29 October 2026.

One point is open. The resolution excludes digital representations of legal tender from its definition of virtual assets, and it does not say whether a dollar stablecoin falls inside that exclusion. We could not confirm the SBS's view from a primary source on 29 October 2026. In practice, the question for a company is simpler: does the provider treat its stablecoin business as covered, and is it registered as an obligated entity with the UIF-Perú? Ask for that in writing.

What the rules mean in practice

For a Peruvian exporter, agency or trading company paid in stablecoins, the rules shape four decisions: which provider to use, what currency to receive, which account receives it and what records to keep.

Which provider

A provider covered by SBS Resolution 02648-2024 must appoint a compliance officer and notify the UIF-Perú, apply due diligence to clients and their beneficial owners, keep a record of operations and report suspicious ones. PSAVs had up to 120 days from the resolution's entry into force to implement it. A provider that cannot tell you whether it is an obligated entity before the UIF-Perú is a provider to avoid for company funds. The resolution applies to providers domiciled or incorporated in Peru; a provider abroad follows the rules of its own country.

What currency you receive

Peruvian banks offer dollar accounts as standard products, and about 26% of the liquidity of Peru's depository institutions was in US dollars in September 2026, according to the Banco Central de Reserva del Perú (BCRP). That makes a dollar payout practical. Ask the platform before the first sale whether it pays out in soles or dollars, and to which kind of account. A payout in soles means a second conversion if you need dollars for suppliers.

Which account receives it

Dollars can arrive in the company's dollar account in Peru, by local transfer or by SWIFT from abroad, or stay in a USD account abroad in the company's name. Local transfers between Peruvian banks use the CCI (Código de Cuenta Interbancario), a 20 digit code that identifies an account for transfers between banks. For transfers from abroad, BBVA Perú accepts its 20 digit account number or the CCI with its SWIFT code, and publishes an incoming fee for companies of US$25.00 up to US$10,000 and 0.25% above that, with a minimum of US$25.00 and a maximum of US$30.00.

What records you keep

A conversion on a platform leaves a platform statement and a blockchain transaction, not a bank record of the sale. Your accountant needs both, matched to the invoice or contract that explains why the company held the stablecoins. For the wider picture of dollar accounts for Peruvian companies, see our guide to a USD business account in Peru.

The routes Peruvian businesses use

Businesses in Peru use four routes to turn USDT or USDC into money in a bank account. The table compares them by what you receive and what to check. It is not a ranking.

Route	How it works	What you receive	Main points to check
Platform operating in Peru	Deposit the stablecoins, sell them, withdraw to a bank account	Soles or dollars, depending on the platform	Status as an obligated entity before the UIF-Perú, business account in the company's name, payout currency, spread
OTC desk	A trading desk quotes a price for a block, you send the stablecoins and it pays out	Soles or dollars, depending on the desk and where it banks	The desk's legal entity, which entity pays you, written quote and confirmation
P2P marketplace	You sell to another user who pays you directly by bank transfer	Soles or dollars from a third party's account	Payments from strangers, fraud exposure, weak records for tax and audit
Provider outside Peru with a USD account	Receive or send the stablecoins to the provider and convert them to USD in an account in the company's name	US dollars in an account abroad	Eligibility for Peruvian companies, whose name is on the account, how the dollars move on

Route descriptions compiled by the Helm Editorial Team from the rules above. As published on 29 October 2026.

An OTC (over the counter) desk is a trading firm that buys and sells large blocks directly with clients instead of through a public order book. P2P (peer to peer) means you trade with another user, with the platform acting only as a marketplace.

Platforms operating in Peru

This is the usual route for regular, mid-sized conversions. Open a business account in the company's name, give the RUC and beneficial owner information the platform asks for, and request a dollar payout to the company's dollar account if the platform offers one. Ask for the rate and fee before each sale.

OTC desks

Desks suit larger, one-off conversions. Get the counterparty's legal name, ask which entity will pay you and from which account, and keep the written quote and confirmation for each trade.

P2P marketplaces

P2P is the route most likely to cause problems for a company. The buyer pays from its own bank account, which may belong to someone unconnected to the trade. If those funds are later reported as the proceeds of fraud, your bank may freeze the receiving account while it investigates.

A provider outside Peru

A company that wants dollars can convert outside Peru, into a USD account in its own name, and keep them there or wire them home. Article 64 allows both. Check whether the provider accepts companies registered in Peru and whether the account details are in the company's own name.

Getting US dollars into an account in the company's name

Because Peruvian banks offer dollar accounts and the law allows holding dollars abroad, a Peruvian company has more clean paths to dollars than most. The question is how many conversions each path takes.

Path	Conversions	Where the dollars end up	What to check
Sell on a platform that pays out in dollars	One: stablecoin to dollars	The company's dollar account at a Peruvian bank	Whether the platform pays dollars to a CCI in the company's name
Sell for soles, then buy dollars from your bank	Two: stablecoin to soles, soles to dollars	The company's dollar account at a Peruvian bank	The platform's spread plus the bank's selling rate
Convert abroad into a USD account in the company's name	One: stablecoin to dollars	A USD account abroad, with US routing and account number where the provider offers them	Provider eligibility, account in the company's own name
Convert abroad, then wire to Peru	One, plus an international wire	The company's dollar account at a Peruvian bank	The wire fee, intermediary charges and the Peruvian bank's incoming fee, such as BBVA Perú's US$25.00 up to US$10,000

Sources: Constitución Política del Perú, Article 64; BBVA Perú, Transferencias del Exterior for companies; route descriptions by the Helm Editorial Team. As published on 29 October 2026.

Step by step: converting abroad

Open a USD account in the company's name with a provider that accepts Peruvian companies and supports USDC or USDT.
Confirm the supported blockchain networks before anyone sends stablecoins. A transfer sent on a network the receiving address does not support may not be recoverable.
Receive the stablecoins from the customer, or send them from the company's own wallet, quoting the invoice in your records.
Convert to USD inside the account and keep the conversion confirmation.
Use the dollars: hold them, pay suppliers abroad by SWIFT, or wire them to the company's dollar account in Peru.

SWIFT is the international network banks use to send cross-border payments. Give the sender your dollar account, not your soles account, so the payment is not converted on arrival. On a SHA payment, where sender and receiver share fees, the US correspondent bank can deduct a fee before the money reaches Peru. A correspondent bank is the US bank that holds dollars for your Peruvian bank and passes the payment on.

P2P, agents and the bancarización rules

Peru has a rule that most countries do not: the bancarización law, the Ley para la Lucha contra la Evasión y para la Formalización de la Economía, whose consolidated text was approved by Supreme Decree 150-2007-EF. It requires payments above a threshold to be made through the financial system, with a medio de pago, and it bites hardest when stablecoins are used to settle business obligations.

Rule	What it says	Why it matters with stablecoins
Threshold (Article 4)	S/2,000 or US$500, from 1 April 2022	Almost every business payment is above it
Medios de pago (Article 5)	Account deposits, giros, fund transfers, payment orders, debit and credit cards, checks, remittances and letters of credit	A stablecoin transfer is not on the list
Payment to the creditor (Article 5-A)	The obligation is met only if payment goes directly to the creditor or to a third party designated and previously notified to SUNAT	Payment through an agent or a P2P counterparty does not count
Consequence (Article 8)	Payments made without a medio de pago give no right to deduct expenses, costs or credits, to offset taxes or to request refunds	Settling a supplier in USDT can cost more in tax than it saves

Sources: SUNAT, Informe 000039-2022-SUNAT/7T0000 (3 June 2022); CMS, amendments on the use of medios de pago, Decreto Legislativo 1529. As published on 29 October 2026.

The practical rule follows: receive stablecoins if you must, convert them to dollars in an account in the company's name, and pay suppliers and other obligations by bank transfer from that account. Take tax advice before settling any obligation directly in a crypto asset. Beyond the tax point, the usual risks of informal routes apply:

Third-party funds. A P2P buyer pays from its own bank account. If that money is disputed later, the bank that received it can freeze the account while it investigates.
No regulated counterparty. An individual P2P buyer is not an obligated entity before the UIF-Perú, so the company is left to identify the counterparty itself.
Supplier payments. The supplier's bank expects the payer to be the party on the contract. Our guide on paying Chinese suppliers from Peru covers how payment and paperwork should match.
Wrong network, wrong address. Blockchain transfers cannot be reversed by a bank. Send a small test amount to any new address first.

Documents, records and tax points

Providers ask for a company file before they open a business account, and each conversion needs its own records. The table is a typical checklist; each provider sets its own requirements.

Document or record	Why you need it
RUC and the public deed of incorporation and bylaws	Identifies the company; providers record the RUC
Registry certificate showing the legal representatives and their powers	Shows who may open the account and trade for the company
Identity documents of directors, signatories and beneficial owners	Due diligence on clients and beneficial owners under SBS Resolution 02648-2024
The invoice or contract that explains each stablecoin receipt	Links the receipt to a sale, a service or a loan
The blockchain transaction record (hash, network, sending and receiving addresses)	Shows the stablecoins arrived in the company's wallet
The provider's conversion confirmation	Shows the rate, the fee and the amount received
The bank statement showing the dollars or soles arriving	Closes the chain from invoice to bank account

Typical requirements compiled by the Helm Editorial Team; requirements vary by provider. As published on 29 October 2026.

The RUC (Registro Único de Contribuyentes) is the taxpayer registration number issued by SUNAT, Peru's tax and customs authority. A transaction hash is the unique identifier of a blockchain transfer.

The tax position is not settled

SUNAT has not published specific rules on crypto assets. As Gestión reported, SUNAT stated that Peruvian law contains no specific regulation of crypto trading and declined to answer consultations on the subject. Advisers quoted in the same report take the view that the general rules apply case by case, and that the treatment of companies that use crypto assets regularly remains an open question.

For a company, that means three things. Record each stablecoin receipt at its dollar value on the day, as part of the sale it pays for. Record the dollars realized on conversion and keep any difference visible. And agree the treatment of both with your accountant before the first conversion, not at year end. This guide does not give tax advice.

Where Helm fits

Helm is a financial technology company, not a bank. Accounts are held with regulated partner institutions. Helm serves companies registered in Peru.

A Helm account gives the company USD account details in its own name, with a US routing and account number that receives ACH, Fedwire and SWIFT payments. ACH is the low-cost US domestic bank transfer system, and Fedwire is the Federal Reserve's same-day system for large payments. For a Peruvian company holding or receiving stablecoins:

Receive and convert stablecoins. The account can receive USDC and USDT and convert them to USD inside the account, in the company's own name.
Pay by bank transfer. Converted dollars pay suppliers as SWIFT transfers or by local rails in the supplier's currency where available, with the rate, fee and expected arrival shown before sending. Confirm with your tax adviser that payments from the account meet the bancarización rules for your case.
Bring dollars to Peru. Wire them to the company's dollar account at a Peruvian bank when needed.
Collect from US customers. Customers that would rather pay in dollars than stablecoins can pay the same account by ACH or Fedwire.

Each account has a named account manager, and review questions are answered in writing within one business day. Trade finance, such as supplier finance, receivables finance and working capital, is arranged case by case. Helm agrees pricing with each business in writing before the account opens, and shows the rate, the fee and the expected arrival before you confirm each payment.

A checklist before you convert

Confirm the stablecoin receipt is backed by an invoice or contract in the company's name.
Ask the provider in writing whether it is an obligated entity before the UIF-Perú.
Ask whether it pays out in dollars to a CCI in the company's name, and choose the route that converts once.
Use a provider account in the company's name, never a director's personal account.
Check the blockchain network before any stablecoins are sent, and send a test amount to new addresses.
Pay suppliers and other obligations by bank transfer, not in stablecoins, to keep the bancarización trail.
Keep the transaction hash, the conversion confirmation and the bank statement with the invoice.
Agree the accounting and tax treatment with your accountant before the first conversion.

Open a Helm account

USD, EUR and GBP accounts in your company's name, with a named account manager.

Open account

Questions

Can a Peruvian company legally convert USDT to US dollars?

Yes. Peru supervises virtual asset service providers for anti-money laundering under SBS Resolution 02648-2024, and Article 64 of the Constitution guarantees the free holding and disposal of foreign currency. Use a provider that is an obligated entity before the UIF-Perú and receive the dollars in an account in the company's name.

Who regulates crypto exchanges in Peru?

Virtual asset service providers are obliged entities supervised by the UIF-Perú, the financial intelligence unit within the SBS, for anti-money laundering purposes. SBS Resolution 02648-2024 requires them to appoint a compliance officer, identify clients and beneficial owners, keep records and report suspicious operations.

Is USDT a virtual asset under Peruvian rules?

SBS Resolution 02648-2024 defines virtual assets as digital representations of value that can be traded or used for payments or investment, excluding digital representations of legal tender. It does not say whether a dollar stablecoin falls inside that exclusion, so ask your provider how it classifies USDT and USDC.

Can a Peruvian company keep the dollars from a USDT sale abroad?

Yes. Article 64 of the Constitution guarantees the free holding and disposal of foreign currency, so a company may keep dollars in Peru or abroad. It can also wire them later to its dollar account at a Peruvian bank.

How is a stablecoin conversion taxed in Peru?

SUNAT has not published specific rules on crypto assets and, as Gestión reported, declined to answer consultations on their tax treatment. Advisers apply the general rules case by case, so record each receipt and conversion at its dollar value and agree the treatment with your accountant.

Can a Peruvian company pay a supplier in USDT?

It is risky for tax. Under the bancarización law, payments above S/2,000 or US$500 must use a medio de pago, and a stablecoin transfer is not on the list. Payments made without one give no right to deduct the cost or claim tax credits, so convert to dollars and pay by bank transfer.

What is the cheapest way to convert USDT to USD in Peru?

The route with one conversion usually costs less. A platform that pays dollars to the company's dollar account, or a conversion abroad into a USD account in the company's name, avoids paying a spread to soles and a second spread back to dollars.

How much do Peruvian banks charge to receive converted dollars from abroad?

Each bank publishes its own fee. BBVA Perú publishes US$25.00 for incoming transfers to companies up to US$10,000 and 0.25% above that, with a minimum of US$25.00 and a maximum of US$30.00. Correspondent banks can deduct a separate fee on the way.

Is it safe to sell company USDT on a P2P marketplace in Peru?

It carries risks for a company. The buyer pays from its own bank account, which may be unconnected to the trade, and if the funds are later disputed the receiving account can be frozen. P2P records are also hard to match to an invoice.

References

HelmHelm is a business account for companies that trade internationally: USD, EUR and GBP accounts, international payments, collections and currency exchange, with a named account manager. Questions: [email protected].

This guide is general information for businesses, not financial, legal or tax advice. Rules, fees and timings were checked against the sources listed on the review date and may change.

How to convert USDT to USD for a business in Peru