International payroll platform Deel will start providing stablecoin wage payouts by a partnership with MoonPay, beginning with employees within the UK and EU subsequent month. The combination permits workers to obtain wages instantly in stablecoins to non-custodial crypto wallets, with a US rollout deliberate in a later part.
Deel processes $22 billion in payroll yearly worldwide, to greater than 150 million employees, the corporate said in October. It is going to use MoonPay to deal with stablecoin conversion and onchain pockets supply, successfully including crypto settlement rails to its current payroll infrastructure, in response to Tuesday’s announcement.
Beneath the association, employees will be capable of choose in to obtain half or all of their wage in stablecoins, as a substitute of native fiat currencies. MoonPay will handle the conversion and settlement course of, whereas Deel continues to function the payroll and compliance layer.
JP Richardson, co-founder and CEO of Exodus, stated the partnership alerts a broader shift in direction of on a regular basis crypto use. “You do not convey the world into crypto with whitepapers. You do it with paychecks,” Richardson wrote on Xarguing that stablecoin payroll will cut back cross-border fee delays and middleman charges for employees globally.
The partnership expands Deel’s current crypto payout choices and provides one other enterprise distribution channel for MoonPay, which holds a New York BitLicense and cash transmitter licenses throughout the US, in addition to authorization below the EU’s MiCA framework.
The businesses didn’t disclose which stablecoins will likely be supported or what number of customers are anticipated to choose in at launch. Additionally they didn’t present a particular time line for the US enlargement or particulars on regulatory approvals tied to the second part.
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Stablecoin house is turning into more and more crowded
Whereas MoonPay and Deel’s rollout targets employees within the UK and EU, the partnership comes amid speedy enlargement within the US greenback–pegged token market. For the reason that US Congress established a federal framework for fee stablecoins in July 2025 with the GENIUS Act, a rising variety of corporations have moved to launch regulated stablecoins within the US.
In March, World Liberty Monetary, a DeFi platform linked to the Trump household, launched its USD1 stablecoin, and in January, Wyoming turned the primary US state to subject its personal stablecoin, the Frontier Steady Token (FRNT).
The identical month, Tether, issuer of the world’s largest stablecoin USDt (USDT), confirmed the launch of USAt, a US dollar-pegged token issued by Anchorage Digital Financial institution and positioned as a federally regulated fee stablecoin to be used throughout the US.
Some conventional US banks are additionally getting ready to enter the stablecoin market after the Federal Deposit Insurance coverage Corp. proposed a framework outlining how subsidiaries of FDIC-supervised banks may apply to subject fee stablecoins in December.
Regardless of the wave of latest entrants, the market stays closely concentrated. Based on DefiLlama dataTether’s USDt accounts for about 60% of whole stablecoin market capitalization, whereas Circle’s USDC (USDC) represents about 24%.
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