Global payroll provider Remote is allowing the United States-based companies it serves to pay their contractors in 69 countries in USD Coin. The new option is an extension of Remote’s offerings in conjunction with payment provider Stripe, reports Cointelegraph.
“Stablecoin payments complement Remote’s powerful automation features for onboarding, invoicing, and paying contractors,” according to the company’s announcement. Contractor management capabilities are growing fast, the company said, reflecting a post-COVID shift in global hiring models.
Contractors can receive Circle’s USD Coin USDC on a Base wallet address. Base is the Coinbase layer-2 network launched in August 2023. Remote’s employer customers will pay for the service in US dollars. Remote co-founder and CEO Job van der Voort said:
“We’re adding a feature that has been highly requested by our customers, enabling them to pay contractors how they prefer, while maintaining the compliance and simplicity Remote is known for.”
The dollar-pegged USDC makes it possible for recipients to store value in the US currency, which in many countries provides a hedge against inflation and other economic instability. Stripe allows accounts to be settled nearly instantly rather than waiting on bank transfers and foreign exchange procedures.
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