Deel partners with MoonPay to enable stablecoin payroll in UK, EU
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Global payroll provider Deel will introduce stablecoin wage payments through a partnership with MoonPay, beginning next month for workers in the United Kingdom and European Union, with a United States launch to follow at a later date.
The integration enables employees to receive earnings directly in stablecoins to non-custodial crypto wallets. Deel, which in October reported processing $22 billion in annual payroll to more than 150 million workers worldwide, will use MoonPay to convert funds and deliver them onchain, adding crypto settlement rails to its existing payroll infrastructure, according to Tuesday’s announcement.
Under the program, workers can choose to take part or all of their salary in stablecoins instead of local fiat. MoonPay will oversee conversion and settlement, while Deel will continue to manage payroll operations and compliance.
JP Richardson, co-founder and CEO of Exodus, said the arrangement points to broader mainstream adoption of crypto in everyday transactions. Posting on X, he argued that stablecoin payroll could help mitigate cross-border payment delays and intermediary fees for workers globally.
Source: JP Richardson
The partnership broadens Deel’s existing cryptocurrency payout options and offers MoonPay another enterprise distribution channel. MoonPay holds a New York BitLicense and money transmitter licenses across the U.S., along with authorization under the EU’s MiCA framework.
The companies did not specify which stablecoins will be supported or the number of users expected to opt in at launch. They also did not provide a detailed timeline for the U.S. rollout or additional information on regulatory approvals for the second phase.
Stablecoin market sees rising competition
Although the initial rollout targets the UK and EU, the announcement comes amid rapid expansion in the U.S. dollar–pegged token market. Since the U.S. Congress established a federal framework for payment stablecoins in July 2025 under the GENIUS Act, more firms have moved to launch regulated stablecoins in the U.S.
In March, World Liberty Financial, a DeFi platform associated with the Trump family, introduced its USD1 stablecoin. In January, Wyoming became the first U.S. state to issue its own stablecoin, the Frontier Stable Token (FRNT).
Also in January, Tether, issuer of the largest stablecoin USDt (USDT), confirmed the launch of USAt, a U.S. dollar–pegged token issued through Anchorage Digital Bank and positioned as a federally regulated payment stablecoin for domestic use.
Some traditional U.S. banks are preparing to enter the sector after the Federal Deposit Insurance Corp. in December proposed a framework outlining how subsidiaries of FDIC-supervised banks could apply to issue payment stablecoins.
Despite new entrants, the market remains concentrated. DefiLlama data shows Tether’s USDt holds about 60% of total stablecoin market capitalization, while Circle’s USDC (USDC) accounts for roughly 24%.
Stablecoin market cap. Source: DefiLlama
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