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Remote introduces stablecoin payments for contractors in 69 countries

Tuesday 17 December 2024 14:00 CET | News

HR and payroll platform Remote has announced that companies can now pay contractors in 69 countries using stablecoins, starting with USDC on the Base network.

 

Initially available to US-based companies, the feature provides a faster alternative for compensating international contractors while maintaining regulatory compliance across jurisdictions. The new payment option is part of Remote’s contractor management services, which continue to grow as businesses increasingly rely on global talent and flexible workforce models. Stablecoin payments integrate with Remote’s existing features for onboarding, invoicing, and payments, enabling companies to manage their contractors through a unified platform.

 

HR and payroll platform Remote has announced that companies can now pay contractors in 69 countries using stablecoins, starting with USDC on the Base network.

 

Faster payments with stablecoin integration 

The feature offers contractors an alternative to local currencies, with near-instant payouts. Contractors can add their Base network wallet address and opt to receive payments in USDC, while companies are billed in USD. The system aims to address delays common in traditional international payment processes. 

In the company press release, representatives from Remote stated that international payments remain a significant challenge for businesses hiring global talent. They noted that the addition of stablecoin payouts through Stripe is a response to growing demand for faster and more flexible payment solutions, ensuring compliance and ease of use for employers. The stablecoin feature is available at the time of writing for contractors and employers on the Remote platform.

Stablecoin usage is on the rise 

According to Forbes, the use of stablecoins is expanding, reshaping the payments landscape and drawing significant attention from both emerging markets and established financial institutions. Tether’s USDT currently holds a market capitalization exceeding USD 120 billion. 

This growth has prompted traditional finance players, including companies such as Visa and Stripe, to explore stablecoins’ potential within payment systems. At the same time, new entrants like YellowCard are stepping into the market, challenging conventional financial service providers. However, despite their rising adoption, stablecoins continue to face scrutiny. Concerns persist about the regulatory framework governing these digital assets, raising questions about their long-term stability and integration into global financial systems.


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Keywords: cryptocurrency, partnership, stablecoin, digital payments
Categories: DeFi & Crypto & Web3
Companies: Remote, Stripe
Countries: United States
This article is part of category

DeFi & Crypto & Web3

Remote

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Stripe

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