tl;dr
More employees globally are receiving parts of their salaries in cryptocurrencies as blockchain firms and decentralized organizations reshape compensation. A Pantera Capital survey shows USDC stablecoin as the top payroll token, especially popular among Asia-based workers facing banking challenges. ...
As blockchain firms and decentralized organizations redefine compensation, more employees worldwide are receiving portions of their salaries in cryptocurrencies. A recent Pantera Capital survey highlights USDC stablecoin as the leading payroll token, especially favored by Asia-based workers facing traditional banking challenges.
The employee compensation landscape has shifted dramatically. In 2023, only 3% of surveyed workers received some salary in crypto assets; this rose to 9.6% in 2024, reflecting growing acceptance of digital tokens as payment options. Meanwhile, reliance on purely fiat payments declined from 95% to 85% during the same period. This change is driven by blockchain companies and DAOs seeking efficient, borderless payment solutions offering faster settlements, lower fees, and enhanced financial inclusion.
USDC dominates crypto payroll distributions, comprising over 60%, significantly ahead of USDT at 28%. Other cryptocurrencies—like Solana and Ethereum—account for smaller shares. Asian teams and contractors are key adopters of stablecoin compensation due to local banking volatility, high remittance fees, and regulatory hurdles. Many prefer stablecoins such as USDC for timely, cost-effective payments.
Hybrid payroll models allowing employees to split salaries between fiat and crypto tokens are increasingly common. This setup supports varied financial strategies like dollar-cost averaging and offers flexibility during uncertain monetary times. Industry experts view crypto payroll adoption as nascent, with expectations for growth as more crypto-native firms formalize and regulatory clarity improves. Traditional companies might also adopt stablecoins for employee compensation in the future.
Pantera Capital, an early investor in Circle—the issuer of USDC—provides key insights into this evolving compensation ecosystem, marking a significant moment in the ongoing integration of cryptocurrencies into mainstream payroll frameworks.