MoonPay and Deel are partnering on stablecoin salary payouts.
The integration for these services is planned for end of Q1 and particularly focusing on workers located in the European Union and the UK, with U.S. to follow.
Deel will have access to MoonPay’s features such fiat-to-stablecoin conversion and easy off-ramping. This intends to improve payroll speed and costs for large enterprises.
MoonPay Founder and CEO Ivan Soto-Wright expressed:
Deel is transforming global payroll for the modern workforce, and MoonPay is proud to support their mission with enterprise-grade stablecoin payouts. This partnership represents a major step forward in bringing digital assets into real-world financial use cases like salary payments.”
Deel Head of Crypto expressed:
At Deel, we are committed to giving the global workforce ultimate flexibility in how they receive their earnings. By integrating MoonPay’s infrastructure, we’re expanding our suite of payment options, making it even easier for workers to access their pay instantly and securely via stablecoins.”
Employees can also provide their own non-custodial wallets, which is great for balance ownership and choosing currency options. On the other hand, the process for stablecoin salary is not fully disclosed – adding a specific address into a Deel account under payroll details does mean certain privacy aspects should be considered as well.
Instantaneous and programmable payouts also means that employees and contractors can choose to be paid on a more frequent basis (weekly, daily, hourly, etc.) at little to no additional cost for the employer, which is why monthly payments are traditionally made.
Stablecoins are becoming more used in payroll as the broader cross-border transfers category expands, as recently seen with ZeroHash and Gusto stablecoin payouts.
