In a significant development for the global workforce, MoonPay has announced a partnership with Deel, an all-in-one global payroll and HR platform. This collaboration will enable Deel’s workers to receive their salaries in stablecoins, enhancing payment flexibility and speed for distributed teams across the globe.
Deel has positioned itself as a crucial player in the gig and remote work economy, allowing companies to hire, manage, and pay workers from virtually anywhere. This partnership marks a significant stride into the realm of cryptocurrency-enabled payroll, integrating MoonPay’s technology to facilitate compliant salary payments directly into users’ non-custodial crypto wallets.
The rollout of this new payment option is set to commence next month, initially catering to employees based in the UK and the EU, with plans to expand into the U.S. during a subsequent phase. Ivan Soto-Wright, CEO and Founder of MoonPay, expressed enthusiasm about the partnership, stating it represents a noteworthy advancement in integrating digital assets into everyday financial use cases such as salary payments.
Thierry Edde, Deel’s Head of Crypto, emphasized the company’s dedication to providing ultimate flexibility for the global workforce regarding payment methods. By leveraging MoonPay’s infrastructure, Deel aims to broaden its array of payment options, allowing users to access their pay securely and instantly through stablecoins.
The advantages of stablecoin payroll are substantial, particularly for Deel’s diverse user base. These include:
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Faster Payouts: With near-instant settlements compared to traditional banking systems, employees can access their earnings more quickly.
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Protection from Volatility: Stablecoins can help maintain value, especially in regions experiencing high inflation.
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Global Accessibility: Workers in areas with unreliable banking systems can still receive funds securely.
Deel continues to innovate how organizations handle payroll and HR operations in over 150 countries. The platform is designed to accommodate the new realities of work, granting businesses the tools they need to scale effectively and comply with various regulations.
Similarly, MoonPay has established itself as a significant player in the financial technology space since its inception in 2019. The company facilitates the movement of value across various fiat and digital assets, boasting a customer base of over 30 million across 180 countries. MoonPay’s robust technology supports on- and off-ramps, trading, and stablecoin infrastructure—connecting traditional payment systems with blockchain technology.
As this partnership unfolds, it promises to reshape the landscape of global payroll, empowering workers with greater control over their earnings and enhancing the overall efficiency of payment workflows in today’s increasingly decentralized economy.
