30s Summary

Global payroll provider Remote now allows US-based businesses to pay contractors in 69 countries with USD Coin through their partnership with Stripe. The move provides an automation feature appreciated by customers, allows contractors control over payment preference, and ensures compliance. It offers a safeguard against inflation in shakier economies. Before, international payments could only be made in the contractor’s local currency, but Stripe began offering payments via USD Coin in summer 2024. Despite this, Bitcoin remains popular as a form of salary payment.

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Remote, the global payroll provider, has got some exciting news: it’s now letting US-based businesses pay their contractors in 69 different countries with USD Coin. This cool feature is an extension of Remote’s partnership with payment provider Stripe.

Now, you might be wondering, why’s that so special? Well, according to the folks at Remote, paying in stablecoin like USD Coin enhances their automation features for getting new contractors up to speed, invoicing and making payments. Plus, it’s a feature a lot of their customers have been asking for. Remote’s CEO, Job van der Voort, explains that this approach means contractors can be paid the way they prefer, while keeping things easy and compliant – just what Remote is all about!

This new addition is handy as it allows people to be paid in USD Coin and keep their value stored in US currency. This can be a real lifesaver in a lot of countries where the economy might be a bit shaky, as it helps protect against inflation. Not to mention, with Stripe, transfers can happen pretty much instantly, avoiding all the waiting around that usually goes with bank transfers and exchanging currencies.

Before, if your business worked with Remote using Stripe Connect, you could only pay people in their own local currency (with a few exceptions in Europe). Well, now things are a bit different. Stripe has started offering USD Coin payments during the summer of 2024 after a gap in cryptocurrency services since 2018.

Despite the growing popularity of stablecoin like USD Coin, Bitcoin is still a strong contender for salary payments, and there are loads of people, including celebs and politicians, who’ve expressed their interest in getting paid in Bitcoin.