Payroll platform Deel is offering its UK users the chance to be paid in stablecoins, as part of a new partnership with fintech Moonpay that aims to promote the benefits of a crypto-based salary.

Beginning next month, thousands of workers using Deel’s platform will be able to receive their wages in stablecoin payments sent directly to non-custodial crypto wallets, powered by Moonpay’s fiat infrastructure division, Iron, which will handle conversion and wallet delivery.

Under the partnership, as many as 40,000 businesses across the UK and EU could pay their employees in stablecoins before a second phase rollout to the US, with the service targeting firms already using Deel’s cross-border platform, which handles around $22 billion in global payroll a year.

While Deel did not confirm which stablecoins will be supported, the firm touted their benefits in salary payments, claiming that they offer near-instant settlement compared to traditional banking rails and stability in high-inflation regions because they’re pegged to fiat currencies.

“At Deel, we are committed to giving the global workforce ultimate flexibility in how they receive their earnings,” said Thierry Edde, head of crypto at Deel. 

“By integrating MoonPay’s infrastructure, we’re expanding our suite of payment options, making it even easier for workers to access their pay instantly and securely via stablecoins.”

The move marks Deel’s latest push to see crypto-enabled salaries become commonplace, with the platform having offered US contractors and employees the ability to be paid in cryptocurrencies like USDC and Solana since 2021 through a partnership with Coinbase.

Interest in crypto salaries has grown rapidly over the last few years, with one in four companies worldwide now paying their employees in cryptocurrency, with the USDC and USDT stablecoins accounting for over 90% of market share.

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According to figures from payment platform and Deel rival Rise, the growing popularity of these digital assets could be due to employers looking to cut payroll costs, while giving staff fast access to their wages.  

While the average fee for sending a traditional cross-border transaction is around 6.6%, and an international wire from a major bank can cost $35–$45 plus a 2–4% FX markup, a stablecoin payroll transfer typically costs less than $3 and lands in seconds, reducing international payroll costs by up to 95%.