WorldFirst alternative for paying suppliers in China with stablecoins
WorldFirst pays China from UK and EU accounts in USD or CNH, and takes no USDT or USDC. Importers paying in stablecoins or wanting onshore CNY can use Unigox as a WorldFirst alternative. Keep WorldFirst for 1688 and World Accounts.
When Unigox fits better than WorldFirst
Your money is in USDT or USDC
WorldFirst's UK terms list trading cryptocurrencies among the prohibited uses of a World Account, and its Singapore FAQ says it does not facilitate payments in digital currencies. With Unigox you pay the factory's invoice straight from USDT or USDC in your Unigox Wallet.
See Pay suppliers in ChinaYour supplier wants onshore currency, not CNH
WorldFirst's UK and EU help centres say the World Account pays a mainland supplier's CNH account, the offshore form of the currency, and the supplier moves it onshore and declares it itself. Unigox pays the onshore currency straight to the supplier's bank account in mainland China.
You want EUR and GBP accounts beside stablecoins
A World Account accepts money only from marketplaces, payment gateways, other businesses, VAT refunds and bank accounts in your own name. A Unigox company account holds stablecoins next to EUR, GBP and USD accounts and swaps stablecoins into euros or pounds in the same portal.
See Business accounts in Europe
When to stay with WorldFirst
Your suppliers already have World Accounts
Payments between World Accounts are free and arrive at once, and WorldFirst says a large network of Chinese suppliers already holds one. If your factories are on it, moving them adds a step.
You buy on 1688.com or pay by card in China
1688 World Pay links your 1688 account and pays the order from your CNH balance at checkout. The World Card spends CNH with no conversion fee, including Alipay payments in person in China.
Marketplaces pay you in many currencies
WorldFirst collects payouts from Amazon, TikTok Shop, Shopify and many other marketplaces into free receiving accounts, holds them, and offers forward contracts and firm orders to fix a rate in advance.
You pay from GBP or EUR and want a public price
WorldFirst UK publishes its fees: no account or monthly fee, a fixed fee per payment and a conversion margin of up to 0.50%. Unigox shows the total and the price breakdown for each China payment before you pay, in place of a published list.
WorldFirst vs Unigox for paying a supplier in China
| Topic | WorldFirst | Unigox |
|---|---|---|
| What it is | Ant International's business account: receiving accounts in many currencies, marketplace payouts, supplier payments, rate-fixing tools and the World Card, with an API for larger companies. | Supplier payments to China funded with USDT, USDC or local currency, and company accounts with stablecoin balances. |
| Into mainland China | USD to the supplier's bank account in mainland China. UK and EU help centres: CNH to the supplier's CNH account there, which the supplier settles onshore and declares itself. Singapore help centre: CNY to bank or Alipay accounts once WorldFirst approves a trade order, up to 1.5 million CNY per supplier a day. | CNY or USD to the supplier's bank account in mainland China. |
| Hong Kong and Singapore | Same-day USD and CNH payments to Hong Kong and SGD payments in Singapore when sent before the cut-off, and free transfers to suppliers who hold a World Account. | USD to the supplier's bank account in Hong Kong or Singapore. |
| Paying from USDT or USDC | Not offered. The UK terms prohibit trading cryptocurrencies through the account, and the Singapore FAQ says WorldFirst does not handle digital currency payments. | Fund each supplier payment from USDT or USDC in your Unigox Wallet, or with local currency. |
| Company accounts | Free receiving accounts in USD, GBP, EUR, CNH and other currencies, filled from marketplaces, payment gateways, other businesses and same-name bank accounts. | Held in your company's name:
|
| Checks before you start | A director applies with ID and a face check; company certificate, IDs of owners with 25% or more and the list of directors; proof of trading or address in some cases. | China payments start after the payer's identity check. Company accounts need a company check (KYB): registration, ownership and source-of-funds documents, with owners of 25% or more, directors and signatories verified. |
| Pricing | UK price list:
| No public list:
|
| Regulation | World First UK Limited is an electronic money institution authorised by the FCA. World First Netherlands B.V. is an electronic money institution authorised by De Nederlandsche Bank. WorldFirst's Singapore company is a Major Payment Institution under the Monetary Authority of Singapore. | Unigox works through two companies: UNIGOX NETWORK CORP. in Canada handles the local-money side and is registered with FINTRAC as a money services business and with the Bank of Canada as a payment service provider; UNIGOX NETWORK CORP. in Panama handles the crypto side, including wallets and escrow. |
UnigoxPaying your WorldFirst supplier through Unigox
Verify as the payer
Sign in to Unigox and pass the identity check. Your WorldFirst company verification does not carry over. Supplier payments open once the check passes.
Get the supplier's bank details
If you pay the factory by its WorldFirst Payment Account Number today, ask for its bank account instead. Choose CNY or USD for a mainland account, USD for Hong Kong or Singapore. For CNY, also ask for the company name in Chinese characters and the Chinese mobile number linked to the account.
Fund it from USDT or USDC
Check the total and the price breakdown, then pay from USDT or USDC in your Unigox Wallet.
Add company accounts
If you also want EUR, GBP and USD accounts, start business onboarding and pass the company check. Our team then opens the approved accounts. 1688 orders and marketplace payouts can stay on WorldFirst.
WorldFirst fees, API and competitors: questions
Is there a WorldFirst alternative that pays suppliers from USDT or USDC?
Yes. Unigox pays a supplier's bank account in mainland China in CNY or USD, and in Hong Kong or Singapore in USD, funded from USDT or USDC in your Unigox Wallet. You verify your identity first and see the total before you pay.
See Pay suppliers in ChinaDo WorldFirst competitors pay a mainland supplier in CNY rather than CNH?
Unigox does: it sends CNY to the supplier's bank account in mainland China. WorldFirst's UK and EU help centres describe payments to the supplier's CNH account instead, and its CNY route is described for Singapore customers after a trade order is approved. Airwallex's local CNY transfers are open to some company types only.
Read the Airwallex comparisonWhat does WorldFirst charge to pay a supplier in China?
On the UK price list, a USD payment to mainland China costs £11.55 and is marked as within four business hours. WorldFirst's help centre gives the next business day for the same payment. Conversion costs 0.30% for the first six months, then up to 0.50% for major currencies, and a payment to another World Account is free.
Does WorldFirst pricing include an account fee?
No. WorldFirst UK charges nothing to open or keep a World Account, and companies turning over £100,000 or more a month can ask for custom rates. Unigox publishes no price list for company accounts; it agrees a pricing plan with each company before the company commits.
Does WorldFirst have an API, and does Unigox?
WorldFirst for Enterprise offers an API for checkout, mass payments, card issuing and treasury. The Unigox Payments API sends payouts to bank and mobile money accounts and collects through them, funded and settled in USDT or USDC.
See the Payments APIKeep 1688 on WorldFirst, pay stablecoin invoices through Unigox
Marketplace payouts can stay on WorldFirst too. Pay each factory invoice you settle in USDT or USDC from your Unigox Wallet, in CNY or USD. For company accounts, we confirm the accounts and pricing after the company check.
WorldFirst and other names and logos are trademarks of their respective owners. Unigox is not affiliated with, endorsed or sponsored by them. Information about other companies comes from public sources, mainly the companies' own websites, and each company can change its products and fees at any time.