Global payroll and HR platform Gusto is partnering with crypto infrastructure provider Zerohash to roll out a stablecoin-based wage payment system.
A recent Coindesk report said the partnership aims to improve remittance speeds by adding a stablecoin-based payroll option for workers outside the United States.
The integration is currently in beta. It allows workers to receive wages in U.S. dollar-based stablecoins. International remittances typically take 3 to 7 days, but using stablecoins can enable settlement within minutes.
Zerohash founder and CEO Edward Woodford said, "As the global workforce market becomes digital, legacy payment systems can no longer meet the speed and accessibility of modern business." The system gives workers a choice of receiving wages through custodial and non-custodial digital wallets.
Gusto currently has more than 400,000 small and midsized business customers.
Chi-gyu Hwang
delight@d-today.co.kr