MoonPay is partnering with Deel to roll out stablecoin-based payroll payments to approximately 40,000 businesses, processing $22 billion in global payroll by 2025 at optimal cost and speed.
MoonPay , a leading fintech company, has just announced an agreement that will allow approximately 40,000 businesses to optimize their payroll operations through stablecoin transactions.
According to a press release dated February 10th, MoonPay will partner with Deel, a payroll and human resources management platform, through its Iron fiat infrastructure to enable businesses to directly pay employees using stablecoins transferred to their wallets.
The service is expected to launch first in the UK and the European Union, with plans to expand to the US market. Max von Wallenberg, founder and CEO of Iron, said Deel will use Iron's system to provide payroll services using stablecoins, enabling fast and seamless global payments at scale.
He highlighted the clear trend, noting that Deel has processed $22 billion in global payroll by 2025 and is accelerating its shift toward crypto-asset solutions.
Cost model and service expansion
Deel entered the cryptocurrency space in 2021 when it began offering employees the option to pay salaries in USDC or Solana . Following the rollout of this option, the company raised $425 million in a Series D Capital round. The platform previously also supported BTC, ether, and XRP as payroll options, requiring employees to open an account at Coinbase to fully activate the features.
Regarding fee structures, Coinbase applies a 1.5 percent vendor fee to payroll withdrawals in crypto assets. Payments in USDC incur a one percent variable fee, while payments in Solana incur an additional 1.5 percent fee. Deel argues that crypto-based payroll payments allow for faster payments to contractors at lower transaction costs compared to traditional methods.
This move comes as major financial institutions are accelerating the adoption of stablecoins. Late last year, Visa Inc. announced a pilot initiative allowing businesses and payment platforms to settle payments directly into recipients' stablecoin wallets via Visa Direct.
According to Chris Newkirk, President of Visa's Commerce and Money Transfer Solutions, the goal is to enable people globally to access funds within minutes, rather than experiencing traditional delays. This feature is particularly valuable for content creators, freelancers, and exchanges in environments with high exchange rate volatility or limited access to banking services.
