Deel, a startup that helps businesses remotely hire employees, has expanded its list of supported payrolls, adding the USDC stablecoin.
In an interview with TechCrunch, Deel's representative said the decision to add support for USDC is explained due to its lesser volatility than cryptocurrencies like bitcoin (BTC) or ether (ETH).
According to the report, companies that prefer USDC over traditional fiat currencies can make a payment directly to Deel via their Coinbase to cover payroll and payments. A spokesperson for Deel continued:
It’s an end-to-end crypto payment experience, with fewer transaction and currency fees, plus, it cuts out the need for businesses and contractors to hold money in a bank account.
Deel added that the startup decided to move toward the cryptocurrency market after it had noticed a 10% month-to-month increase in demand for crypto salary payments.
Read also: Mastercard to expand crypto arm
Cryptocurrencies are gaining more mainstream as social media giants are taking the moment by integrating cryptocurrencies into their systems. As To The Moon earlier reported, Twitter now allows its users to send tips not only in bitcoin (BTC) but also in ether (ETH) as part of its commitment to embrace the Web3 economy.