- Remote enables US companies to pay contractors in USDC, offering a stablecoin alternative for international payments.
- Stripe and Remote’s collaboration ensures faster, secure payments for global contractors with a focus on compliance.
- USDC payments offer a hedge against inflation and streamline the global hiring process by reducing bank delays.
Remote, a global payroll provider, now enables US-based companies to pay their contractors in USD Coin (USDC) across 69 countries. This new feature, powered by payment provider Stripe, complements Remote’s existing automation tools for onboarding, invoicing, and payments. As businesses embrace a post-COVID remote workforce, this move aims to simplify cross-border payments while offering contractors a stablecoin alternative to traditional currencies.
Benefits of USDC Payments
The inclusion of USDC payments signifies a change in the way foreign contractors are compensated. As a stablecoin based on the US dollar, USDC appeals to workers in areas with unstable economies or high rates of inflation.
Remote protects contractors from currency fluctuations by enabling them to keep their earnings in USDC. Stripe avoids time-consuming bank transfers and foreign exchange procedures by integrating with Coinbase’s Base network, which allows for almost instantaneous transactions.
Moreover, this new feature aligns with the growing demand for flexible payment solutions in the global labor market. Contractors can now receive payments directly to their Base wallet addresses, simplifying the payment process.
Remote’s move also supports the trend of global hiring, where companies increasingly seek to hire talent from all over the world. As Remote co-founder Job van der Voort noted, the company is addressing a customer request, making it easier to pay contractors in their preferred currency while ensuring compliance.
Stripe’s Role in the Expansion
The expansion of Remote’s payment options has been made possible in large part by Stripe. In October 2024, Stripe made a comeback to the stablecoin market by collaborating with Coinbase to facilitate USDC payments.
Through this partnership, businesses utilizing Remote’s services can swiftly and effectively settle payments. With USDC, Stripe, which had previously stopped accepting Bitcoin payments in 2018, made a comeback to cryptocurrency, indicating its faith in the reliability and usefulness of virtual currencies.
Additionally, this development highlights Stripe’s growing influence in the global financial ecosystem. With the new USDC payment option, Remote and Stripe are addressing a gap in the international payroll system. As remote work continues to rise, businesses will increasingly seek such solutions for smoother and more secure contractor payments.
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The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
