Deel, the global payroll and compliance platform, now allows full-time employees to receive their salaries in stablecoins through the Polygon network. The integration marks a shift from Deel's previous focus on contractor crypto payments, bringing digital currency wages to permanent staff.
Stablecoins for full-time payroll
Stablecoins are cryptocurrencies designed to maintain a fixed value, typically pegged to a fiat currency like the US dollar. By using Polygon, Deel can process these payments with lower transaction fees and faster settlement times than traditional bank transfers. Full-time employees can now opt to receive a portion or all of their wages in stablecoins, which they can hold or convert as needed.
Why Polygon
Polygon is a layer-2 scaling solution for Ethereum, known for its low-cost and high-speed transactions. For payroll, this means Deel can send salaries without the congestion and high fees common on Ethereum's mainnet. The choice of Polygon also allows for easy integration with existing crypto wallets and exchanges.
What this means for employees
Employees who choose stablecoin salaries avoid conversion delays and cross-border fees. The stable value protects against the volatility seen in other cryptocurrencies. Deel's move positions stablecoins as a practical tool for everyday wages, not just for contractors or gig workers.
The feature is available now for all full-time employees on the Deel platform. How widely it will be adopted depends on employee demand and local regulatory treatment of crypto wages.
