USDC Becomes Leading Choice for Crypto Payroll, Survey Shows

A notable increase in crypto payroll is observed, with 9.6% of surveyed workers receiving part of their salary in digital tokens in 2024, up from 3% in 2023. Concurrently, fiat payments decreased from 95% to 85%.

Key Points on Crypto Payroll

USDC accounts for over 60% of crypto wages, followed by USDT at 28%, Solana at 1.9%, and Ethereum at 1.3%.
Faster settlement times and lower fees attract companies to crypto payroll, especially in regions with unstable banking systems.
Asia-based teams are significant contributors to the rise in crypto salaries, utilizing stablecoins to reduce transfer costs.
Some firms allow employees to split pay between cash and crypto, enabling dollar-cost averaging into crypto markets.
Circle's transparency in USDC reserves boosts trust among payroll departments.
Advancements in payroll platforms simplify on-chain payments and tracking of taxable events.
Further regulatory acceptance may encourage traditional companies to adopt crypto payroll solutions.