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Deel introduces cryptocurrency payroll

Deel introduces cryptocurrency payroll

Remote payroll outfit Deel has joined forces with Coinbase to enable users to to withdraw their paychecks in cryptocurrency.

Users with a Coinbase account can get near-instant withdrawals in the cryptocurrency of their choice.

The firm says Deel Crypto helps workers bypass Swift for international payments, eliminating fees as well as compliance documentation requirements.

Deel, which supports over 500 companies in more than 140 countries, raised $30 million in Series B funding in September.

Deel is facing competition from cryptocurrency provider BitPay, which has launched a payroll-based cryptocurrency service with a focus on international and gig-economy companies looking to pay multiple recipients online simultaneously.

Digital payments will be discussed in depth at EBAday 2020. For delegate passes, register now and join leaders from across Europe's payments ecosystem as EBAday addresses 'The Turning Point in Payments Transformation'.


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