Developers

ICRC-1 Token Standard Explained: The ERC-20 of the Internet Computer

Every blockchain needs a fungible token standard. Ethereum has ERC-20. The Internet Computer has ICRC-1 — a ledger interface for sending, receiving, and querying token balances with predictable fees and sub-second finality. If you are building a DApp, integrating payments, or choosing a wallet, you need to understand ICRC-1.

August 28, 2026 · 6 min read

What is ICRC-1?

ICRC-1 defines a standard interface for fungible token ledgers on the Internet Computer. Each token is its own canister implementing the ICRC-1 spec: transfer, balance_of, metadata, and fee queries. ICP itself follows ICRC-1 on the official ledger canister. Popular ICRC tokens include ckBTC, ckETH, and ecosystem project tokens.

ICRC-1 vs ICRC-2

ICRC-1 — basic transfers and balance queries. Like ERC-20.
ICRC-2 — adds approve/transfer_from for DEX and DeFi integrations. Like ERC-20 with allowance.

Chain-key tokens (ckBTC, ckETH) implement ICRC-2, enabling swaps and automated payments at IC speed.

ICRC-1 token integration for merchants

To accept ICRC-1 tokens, you need an account ID on the Internet Computer. ICPay generates one automatically when you sign up. Share your account ID or username — customers send any ICRC-1 token to that address. Merchant payment guide.

How ICPay supports ICRC-1

ICPay natively sends and receives ICP (the primary ICRC-1 token). ICPay Swap extends support to ICRC ecosystem tokens via ICPSwap integration. The wallet uses the same Internet Identity login and username system regardless of which ICRC token you hold. Open ICPay.

Frequently asked questions

Is ICP an ICRC-1 token?

Yes. The official ICP ledger implements ICRC-1. Any wallet supporting ICRC-1 can send and receive ICP — including ICPay.

What are ICRC-1 transfer fees?

Each token canister sets its own fee. ICP charges 0.0001 ICP per transfer. Most ICRC tokens charge similarly small amounts — far below Ethereum gas.