MoonPay will support a stablecoin-based payroll system for 40,000 companies in the UK and the European Union, The Block reported on Monday. Companies can use MoonPay's fiat infrastructure subsidiary Iron and payroll and HR platform Deel to pay employees directly in stablecoins.
MoonPay said the partnership will help companies pay global talent faster and more efficiently. Max von Wallenberg (맥스 폰 발렌버그), CEO of Iron, said, "Deel will use Iron's technology to build a large-scale stablecoin payroll system," adding, "It aims to process $22 billion in global payroll by 2025."
Deel has introduced a USDC- and Solana-based payroll system since 2021, and raised $425 million in a Series D funding round that year. MoonPay last year launched a dollar-pegged stablecoin in cooperation with self-custody wallet company Exodus Movement and M0.
Chi-gyu Hwang
delight@d-today.co.kr