Remote, a payroll and HR platform, has launched a new feature allowing clients to pay contract workers with stablecoins, starting with the USDC stablecoin. This service, initially available for U.S. businesses, enables companies to pay contractors in 69 countries swiftly and securely. Remote’s CEO highlighted that this feature helps overcome challenges in providing reliable payments to international talent. Contractors can set up a Base Network Wallet to receive their payments, while companies are billed in U.S. dollars. Amid the growing use of stablecoins for cross-border transactions, this development enhances Remote’s capabilities, making it easier for businesses to manage their global workforce efficiently.
Remote Introduces Stablecoin Payments for Contractors Worldwide
In a recent announcement, Remote, a leading payroll and human resources platform, has unveiled a new feature enabling clients to pay contract workers using USDC, a stablecoin. This innovative payment method aims to streamline international transactions, allowing businesses in the U.S. to send payments to contractors in 69 countries.
Remote’s CEO and Co-founder, Job van der Voort, emphasized the importance of fast and reliable payment options for companies hiring global talent. He stated that introducing stablecoin payouts addresses a significant request from their customers, allowing businesses to meet contractor preferences while ensuring compliance and simplicity.
The new stablecoin payment system facilitates near-instant payments, ensuring security and compliance both locally and internationally. Contractors can opt for a new withdrawal method and connect their Base Network Wallet to receive USDC payments, while employers will still be billed in U.S. dollars.
This launch comes amid a growing trend towards using stablecoins for cross-border payments, offering a more efficient alternative to traditional methods that often involve high fees and lengthy processing times. The capability to manage and pay contractors worldwide from a single dashboard reflects Remote’s commitment to adapting to the needs of businesses shifting towards flexible workforce models.
As more companies recognize the benefits of stablecoin payments, this development highlights how digital currency can transform how businesses transact with their international talent.
Tags: Remote, stablecoin payments, contract workers, USDC, cross-border payments, cryptocurrency.
What are stablecoin payments?
Stablecoin payments are transactions made using digital currencies that are designed to keep a steady value, often tied to a traditional currency like the US dollar. This makes them less volatile compared to other cryptocurrencies.
How does Remote and Stripe handle stablecoin payments?
Remote and Stripe work together to allow businesses to pay contract workers using stablecoins. This offers a reliable payment option that can be quickly processed, making it easier for workers to receive their earnings.
What are the benefits of using stablecoins for contract workers?
Using stablecoins can provide several benefits for contract workers, including lower transaction fees, faster payment processing, and reduced exposure to crypto Market fluctuations. This makes it more stable and predictable for receiving payments.
Can anyone use stablecoin payments?
Yes, anyone who has a compatible wallet for stablecoins can use this payment method. However, you will need to ensure that both the employer and the contractor agree to use stablecoins for their transactions.
Are there any risks involved with stablecoin payments?
While stablecoins aim to minimize volatility, they are still subject to regulatory changes, technology risks, and potential issues with the issuing entities. It’s important for workers to understand these risks before opting for stablecoin payments.
