Survey Finds Stablecoins Used for Salaries

- The use of stablecoins for payroll is often positioned as a competitive advantage in attracting international talent by simplifying cross-border payments and giving employees faster access to their earnings. - For businesses, paying salaries in stablecoins can significantly reduce transaction costs compared to traditional cross-border payment methods, which often involve high fees for wire transfers and currency exchange. - In the United States, it is legal for employees to accept wage payments in stablecoins, provided they voluntarily consent and the payment's fair market value meets minimum wage requirements. - The Internal Revenue Service (IRS) treats stablecoins as property, not currency, for tax purposes. This means employers must report wages paid in stablecoins on Form W-2 at their fair market value in U.S. dollars at the time of payment. - Companies like BitPay and the global payroll solution Deel have developed services to facilitate salary payments in various cryptocurrencies, including stablecoins, handling aspects of the conversion and distribution process. - Beyond payroll, businesses are using stablecoins to improve cash flow management through instant settlements, which allows for just-in-time payments and reduces the amount of working capital tied up in transit. - The total market capitalization of stablecoins surpassed $300 billion in October 2025, with one brokerage firm projecting the market could reach $3 trillion by 2028. - Recent legislation, such as the GENIUS Act signed into law on July 18, 2025, is creating a federal regulatory framework for stablecoin issuers in the U.S., which is expected to increase adoption by providing legal clarity.