USDC at Center of 3x Rise in Crypto Salary Payments: Pantera Survey

More companies are adopting crypto payment options as their go-to for salary payment. A new survey from Pantera Capital shows that the number of workers getting paid in crypto has more than tripled over the past year, with stablecoins now used by more teams for payroll. The firm notes that the USDC is the most common token for payroll, as more firms shift from cash-only payments.

As per the survey, just 3% of workers said they were paid in crypto in 2023. That number has jumped to 9.6% in 2024. At the same time, those paid only in fiat dropped from 97% to 89.1%, showing how crypto salaries are becoming more accepted.

Stablecoins Gain Ground in Payroll

Of all crypto payments reported, USDC made up the biggest share, accounting for 63% of all salaries paid in digital assets. USDT came next with 28.6%, while other tokens like Solana and Ethereum made up only a small part of 1.9% and 1.3% respectively.

The survey covers different roles in the blockchain space, including engineering, legal, operations, and product. It shows that crypto is not just for trading anymore. More companies are now using stablecoins to pay staff, especially those working across different countries mostly in decentralised teams.

One reason for USDC’s strong use is its growing reputation. While USDT still sees strong overall adoption, USDC’s greater transparency and backing by audited reserves gives it an edge in corporate use..

Some well-known platforms like Deel also now support crypto-based payment, allowing individuals to withdraw their salaries in USDT or USDC. These tools help global teams receive payments without the need for local banks..

Although the report didn’t break down trends by region, many of the changes are likely being driven by teams based in Asia, where cross-border payments are a key concern.

While most people still receive salary via fiat, we can expect to see more adoptions of crypto-based salary in the coming year as the crypto space is getting more regulatory backings and institutional adoption. 

Also Read: Babylon Labs Launches Trustless Bitcoin Vaults for DeFi Access

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