Remote Working Fintech Deel Now Allows Firms to Fund Payroll in Stablecoin USDC

The team at Fintech Deel notes that if your business holds money in stablecoin USDC, then you can pay your monthly Deel invoice for your team’s earnings in USDC “directly from your Coinbase account.”

Deel‘s management recently confirmed that they are (reportedly) the first company in the global hiring space to allow businesses “to pay their international team using Crypto, starting with USDC.” That is because flexibility “shouldn’t just be about where you hire, but also how you pay your team.”

Deel also noted:

“It’s 2022, and the demand for Crypto payroll is soaring, both from businesses who want to pay their team using their company’s Crypto balance and from team members who wish to receive their earnings in digital currency. At Deel, we’ve seen a 10% month-to-month increase in demand for Crypto salary payments.”

They added:

“Last year, we enabled Crypto Withdrawals for contractors, allowing anyone paid through Deel to withdraw their earnings right to their Coinbase account in Bitcoin, Ethereum, USDC, Solana, and Dash for almost instant withdrawals.”

Today, the team at Deel claims that they are taking things a step further by “enabling businesses to fund payroll in USDC.” Firms that hold their money in USDC can make a payment directly to Deel via their Coinbase account “to cover payroll and payments for their global team.” After the business has paid the money into Deel, contractors are able to “withdraw in over 150 currencies, including Crypto.”

By paying in with USDC, businesses no longer need “to convert their balance into fiat currencies just to run global payroll.” It’s an end-to-end Crypto payment experience, with near-instant settlements and fewer transaction and currency fees, plus, “it cuts out the need for businesses and contractors to hold money in a bank account.”

Deel further noted:

We started with USDC because it’s one of the fastest-growing Stablecoin, and because it’s pegged to the dollar, there’s less room for volatility. With Coinbase as a partner, we’re looking forward to introducing more Stablecoin in the future.”

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