Deel partners with MoonPay for stablecoin payroll payments

Deel announced a partnership with MoonPay to enable the payment of salaries in stablecoins to employees around the world.

As announced, the service will launch next month in the United Kingdom and European Union countries. In the second stage, the solution is planned to be expanded to the United States.

Under the new model, Deel users will be able to choose to receive their compensation in stablecoins, which will be sent directly to their non-custodial cryptocurrency wallets. MoonPay will be responsible for the conversion process and the infrastructure for delivering funds to wallets.

The partnership builds on Deel's existing efforts to integrate payments in digital assets. The platform serves companies managing distributed teams across multiple jurisdictions, and the addition of stablecoins is intended to expand the available payment options.

According to the official announcement, MoonPay's infrastructure will provide the conversion and withdrawal features necessary to deliver compliant stablecoin payrolls. The system is designed to allow employees to access funds via digital wallets, without the need to use traditional banks for the initial payout.

The gradual rollout of the service takes into account regulatory and operational issues in individual markets. Employees in the UK and EU will be the first to gain access, followed by those in the US. No exact date has yet been given for the expansion of the service to the US market.

Payroll payments in stablecoins are intended to address the challenges associated with cross-border payments. Traditional international transfers can take several days to complete, while stablecoin transactions are typically finalized within minutes. In regions affected by high inflation or currency volatility, stablecoins pegged to major currencies can provide greater purchasing power stability. This solution can also increase access to wages for people with limited access to traditional banking infrastructure, as a digital wallet can be created and operated without a bank account.

The Deel platform currently supports companies that employ and manage workers in over 150 countries. The introduction of stablecoin payments is a further expansion of the available payment methods, alongside traditional bank transfers and other digital systems.

MoonPay's technology is designed to deliver enterprise-grade stablecoin payouts, taking into account compliance requirements across different regulatory environments. The company's infrastructure is already integrated with multiple financial and trading platforms that are implementing digital asset capabilities.

The collaboration is part of a growing interest among employers in alternative methods of paying globally dispersed teams, especially where traditional banking causes delays or limits availability. Although stablecoin payments still represent a small segment compared to conventional methods, interest in this solution is growing as digital asset infrastructure develops.

Neither party disclosed the projected transaction volumes or detailed information regarding the regulatory approvals obtained in the markets covered by the implementation.