Global payroll platform Deel partners with MoonPay to offer stablecoin salary payouts, starting in the UK and EU next month. Workers can choose to receive wages in stablecoins to non-custodial wallets, with a US rollout planned later. Deel processes $22 billion in payroll annually for over 150 million workers worldwide.

Employees will have the option to receive part or all of their salary in stablecoins, bypassing local fiat currencies. MoonPay will handle the conversion and settlement process, while Deel manages payroll and compliance. The partnership signals a move towards everyday crypto use, reducing payment delays and fees for global workers.

The partnership expands Deel’s existing crypto payout options and provides another distribution channel for MoonPay. No details were disclosed on supported stablecoins, user opt-ins, or the US expansion timeline. The stablecoin space is growing rapidly, with increasing competition in the US dollar-pegged token market.

Despite the influx of new stablecoin entrants, Tether’s USDT remains dominant, accounting for 60% of total stablecoin market capitalization. Other stablecoins like USDC represent a smaller share. The market is still largely concentrated, even with the introduction of new stablecoin offerings by various entities.

Read more at Cointelegraph: Deel Partners with MoonPay to Launch Stablecoin Payroll in UK and EU