USDC Dominates Crypto Payrolls Amid Enterprise Growth
USDC Leads Crypto Payroll Revolution
A recent report by Pantera Capital reveals a significant shift in how crypto professionals are compensated. The number receiving salaries in digital assets has tripled in the past year, with 9.6% now paid in stablecoins.
The report, based on responses from over 1,600 crypto professionals across 77 countries, highlights a growing trend toward blockchain-native payroll systems and increasing trust in dollar-backed stablecoins like USDC and USDT.
USDC's Payroll Dominance
Despite USDT being the most traded stablecoin globally, Circle's USDC accounts for 63% of all crypto payrolls.
The report explains that major payroll providers like Deel, Remote, and Rippling do not offer USDT for payroll, potentially contributing to USDC's dominance.
Together, USDC and USDT make up over 90% of stablecoin payouts. The total market capitalization of all stablecoins stands at $268.6 billion, according to DeFiLlama.
Token Vesting and Education Trends
The report also indicates a trend towards longer-term alignment through token-based compensation. Nearly 88% of vesting schedules are now set to four years, a significant increase from 64% the previous year.
Interestingly, professionals with a bachelor's degree earn an average salary of $286,039, surpassing those with master's ($214,359) or doctorate degrees ($226,858). This suggests that experience and technical expertise are highly valued in the blockchain industry.
Circle's Enterprise Strategy
Circle is actively positioning USDC for institutional payments, payroll, and B2B financial infrastructure. This goes beyond its traditional role in trading.
- Partnerships: In March 2024, Circle partnered with Intercontinental Exchange (ICE) to explore USDC and tokenized fund integration in global derivatives markets.
- Regulatory Compliance: Circle applied for a federal trust bank charter with the US Office of the Comptroller of the Currency, aiming to provide regulated infrastructure for stablecoin payments, custody, and settlement.
- Regulatory Clarity: The recent GENIUS Act signed into law establishes a regulatory framework for stablecoin issuers, with USDC cited as a model for compliant digital dollars.
As the use of stablecoins for payroll grows, platforms like Codeum can provide crucial security audits and KYC solutions for businesses managing crypto payments and token vesting schedules.