In a significant development for the evolving landscape of global payroll, MoonPay has officially partnered with Deel to enhance salary payout options through stablecoins. This collaboration aims to address challenges posed by slow and costly cross-border banking systems, particularly as remote employment continues to rise and the demand for faster payment solutions increases.
Deel, known for its all-in-one global payroll and HR platform, is committed to assisting companies in hiring and managing workers across the globe. The new partnership will integrate MoonPay’s stablecoin conversion and payout capabilities into Deel’s payroll processes, allowing for compliant salary payments directly to employees’ non-custodial crypto wallets.
The rollout of this innovative payment solution is set to commence next month, beginning with workers based in the UK and EU, followed by an expansion to the U.S. in a subsequent phase. By enabling employees to opt for stablecoin payments, Deel is positioning itself to offer a modern alternative to traditional banking systems. This integration aims to streamline the payment process, giving workers quicker access to their earnings and more control over their income management.
Ivan Soto-Wright, CEO and Founder of MoonPay, emphasized the importance of this partnership, stating that it represents a significant advancement in bringing digital assets into practical financial applications, such as salary payments. Thierry Edde, Head of Crypto at Deel, echoed this sentiment, highlighting the commitment to providing the global workforce with flexible payment options through the integration of MoonPay’s infrastructure.
The benefits of adopting stablecoin payments in payroll processes are manifold. Workers can expect faster payout times, with settlements occurring nearly instantaneously compared to traditional banking methods. Additionally, stablecoins can provide protection against currency volatility, particularly for those in high-inflation regions. This payment option also increases accessibility for workers who may lack reliable banking services, enabling them to receive funds securely.
The partnership between MoonPay and Deel reflects a broader shift in the financial landscape, as stablecoin payroll moves from a niche offering to becoming part of mainstream infrastructure. Deel’s strategic decision to enhance crypto-enabled payout options suggests a growing confidence in stablecoins as scalable and compliant alternatives to traditional cross-border payment systems.
As the rollout progresses, the real test will lie in the adoption rates among workers. Should employees embrace the flexibility and speed that these stablecoin solutions provide, it may lead to a more widespread acceptance of blockchain-based salary payments, signaling a fundamental shift in global payroll practices.
