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Remote working startup Deel adds USDC and Solana withdrawals

Remote recruitment company Deel

December 15, 2021

Reading Time: 2 minutes

Remote recruitment company Deel has added support for USDC and Solana withdrawals. The addition means that contractors using the Deel platform can now choose to receive their wages in the form of the two digital coins.

USDC and Solana Join Bitcoin, Ether, and XRP in Deel’s Salary Payments

Apart from USDC and Solana, encryption friendly firm Deel already supported Bitcoin, Ether, and XRP salary payments. The inclusion of USDC and Solana adds the digital coin payments options to five.

To access Deel’s crypto salary features, users must have a Coinbase exchange account. Coinbase charges a provider charge of 1.5%. USDC salary withdrawals, on the other hand, will include a variable fee of 1%, while Solana payments will cost users an extra 1.5%. Coinbase is among Deel’s enterprise customers, together with Blockfi, Rarible, and Opensea. Encryption friendly firm Deel helps these companies manage the compliance and salary of remote employees.

Deel’s Expansion into Cryptocurrency Salaries

Deel is supporting crypto salaries to enable faster payment with lower transaction fees. Deel’s CEO Alex Bouaziz stated that crypto companies, by definition, are decentralized and hire from all over the world. Therefore, the Deel crypto salary feature is a convenient way to process payments. Bouaziz continues to mention that whatever crypto company viewers may be aware of, they are probably using Deel.

The impact of Deel’s expansion into the cryptocurrency scene is felt in its numbers. Previous reports indicate that the remote recruitment company Deel, reached a valuation of $5.5 billion after completing round D financing of $425 million.

Deel started operation back in 2019. In November 2020, Deel disclosed that it had launched a feature to allow international employees receive their wages in cryptocurrency. Deel also helps firms recruit contractors and full-time customers, apart from facilitating payments for companies. Its operation is scattered to over 150 countries via locally incorporated entities.

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