Articles Product Updates

Introducing Split Settlement2 min read

October 14, 2020 2 min read


Introducing Split Settlement2 min read

Reading Time: 2 minutes

The ability to split settlement of a single payment across both Bitcoin and local currency has been one of our most requested features. We’re excited to announce that Split Settlement capability is now live!

Businesses that use OpenNode can now retain a percentage of settlement funds in Bitcoin, while continuing to use Automatic Conversion to local currency to avoid full exposure to Bitcoin price volatility.

OpenNode is committed to helping businesses reap the benefits of accepting Bitcoin and Lightning Network payments. We are also helping businesses minimize exposure to FX risk. With this update, OpenNode will help businesses reap the benefits of holding a discretionary amount of earnings in Bitcoin.

To take advantage of Split Settlement:

  1. Enable your Local Currency Wallet from the Overview or Wallets page
  2. Enable Automatic Conversion, which will automatically settle incoming Bitcoin payments to your local currency at the time of the transaction
  3. Enable Split Settlement and set your BTC Settlement Ratio. For example, a BTC Settlement ratio of 30% will ensure you retain 30% of settlement funds in BTC, while the other 70% is converted to your local currency

With Split Settlement we are excited to provide businesses a way to slowly but surely transition to holding Bitcoin as primary reserve currency.

As the price of Bitcoin rises and its value proposition as both Store of Value and Medium of Exchange strengthens, we expect this feature to be of increasing value to businesses.

OpenNode’s goal is to deliver the best solutions for businesses looking to integrate Bitcoin payments. We’re always open to new ideas and welcome suggestions for new features to add to our platform. Split Settlement was yet another feature requested by users and we’re thrilled to meet and exceed expectations with ever improving experiences. 

Do you have any ideas or suggestions for new features that you would like to see added to the OpenNode platform? Send us an email to hello@opennode.com or a direct message on twitter and we’re happy to hear from you!