Deel taps MoonPay to roll out stablecoin salary payouts in UK, EU

Deel Partners with MoonPay for Stablecoin Salary Payments in the UK and EU

Deel, a prominent payroll and compliance platform, has announced a significant partnership with MoonPay to offer salary payments in stablecoins for employees based in the United Kingdom and the European Union. This innovative service aims to streamline the payment process for companies utilizing Deel’s platform, enabling them to pay their remote workers in a more efficient and flexible manner.

With the growing interest in cryptocurrencies and blockchain technology, Deel's new offering is set to provide a modern alternative to traditional payment methods. By integrating MoonPay’s infrastructure, Deel allows employers to easily convert fiat currency into stablecoins, facilitating seamless transactions that can enhance the speed and reduce the costs associated with cross-border payments.

Deel’s expansion into stablecoin salary payouts reflects a broader trend in the fintech industry, where companies are increasingly adopting digital currencies to meet the needs of a global workforce. The use of stablecoins, which are designed to maintain a stable value relative to fiat currencies, provides an attractive option for payroll, helping to mitigate the volatility often associated with cryptocurrencies.

While the initial rollout targets the UK and EU markets, Deel has plans to extend this service to the United States in the near future, broadening its reach and catering to a larger audience of employers and employees. This expansion is part of Deel’s commitment to enhance its offerings and provide innovative solutions that align with the evolving needs of the modern workforce.

As more businesses recognize the benefits of cryptocurrency payments, Deel’s collaboration with MoonPay positions the company at the forefront of this shift, promising a more agile approach to employee compensation and financial transactions in the gig economy.

Key Takeaways

Deel has partnered with MoonPay to enable stablecoin salary payments in the UK and EU.
The service aims to streamline cross-border payroll processes and reduce transaction costs.
Deel plans to expand its stablecoin payment offerings to the US market in the future.
The move reflects a growing trend among companies to adopt digital currencies for employee compensation.

This article was inspired by reporting from CoinTelegraph. · Report an issue