A beneficiary is some who wants to make a transaction to fiat in their currency. This can be USD, EUR, GBP, SGD, etc.
Please note the following:
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Transactions for USD beneficiaries cannot be tested in sandbox, you can issue liquidation addresses but sending test USDC there will not trigger anything.
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To test the liquidation address in sandbox please collet Amoy USDC from Circle and transfer to the liquidation address. Transferring anything else will not trigger a drain.
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The quotes on sandbox are not a reflection of production quotes
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Minimum limit to send to any beneficiary is 5 USDC after your developer fees are taken into account. Sending lower than this will result in a transaction failure both in sandbox and in production