International payroll platform Deel will start providing stablecoin wage payouts by way of a partnership with MoonPay, beginning with staff within the UK and EU subsequent month. The combination permits workers to obtain wages straight 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 staff, the corporate mentioned in October. It’ll use MoonPay to deal with stablecoin conversion and onchain pockets supply, successfully including crypto settlement rails to its current payroll infrastructure, in line with Tuesday’s announcement.
Underneath the association, staff will have the ability to 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, mentioned the partnership indicators a broader shift towards on a regular basis crypto use. “You don’t carry the world into crypto with whitepapers. You do it with paychecks,” Richardson wrote on X, arguing that stablecoin payroll will scale back cross-border cost delays and middleman charges for staff 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 beneath the EU’s MiCA framework.
The businesses didn’t disclose which stablecoins will probably be supported or what number of customers are anticipated to choose in at launch. In addition they didn’t present a selected time line for the US growth or particulars on regulatory approvals tied to the second part.
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Stablecoin house is changing into more and more crowded
Whereas MoonPay and Deel’s rollout targets staff within the UK and EU, the partnership comes amid fast growth within the US greenback–pegged token market. For the reason that US Congress established a federal framework for cost stablecoins in July 2025 with the GENIUS Act, a rising variety of firms 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 difficulty its personal stablecoin, the Frontier Secure Token (FRNT).
The identical month, Tether, issuer of the world’s largest stablecoin USDt (USDT), confirmed the launch of USAt, a US greenback–pegged token issued by way of Anchorage Digital Financial institution and positioned as a federally regulated cost 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 might apply to difficulty cost stablecoins in December.
Regardless of the wave of latest entrants, the market stays closely concentrated. In response to DefiLlama knowledge, Tether’s USDt accounts for about 60% of whole stablecoin market capitalization, whereas Circle’s USDC (USDC) represents about 24%.
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