Stablecoins dominate crypto salaries as USDC leads payroll adoption

The use of stablecoins in payroll payments has gained significant traction in the crypto industry, with USDC emerging as the leading option. According to a report by Pantera Capital, which surveyed over 1,600 professionals from 77 countries, the percentage of crypto specialists receiving salaries in digital assets increased from 3% to 9.6% over the past year [1]. The report highlights that stablecoins now account for over 90% of all digital asset salaries, with USDC capturing a 63% share, followed by USDT at 28.6% [1].

This shift is partly attributed to the infrastructure and adoption trends favoring USDC. Despite USDT’s higher trading volume, major payroll platforms such as Deel, Remote, and Rippling do not offer payouts in USDT, giving USDC an edge in the payroll sector [1]. Circle, the issuer of USDC, has also strengthened its position by pursuing a federal trust bank charter and exploring applications of USDC in derivatives markets [1].

The growing preference for stablecoin compensation is reflected in salary trends. Entry-level engineers, in particular, saw their salaries rise by 25.6%, while mid-level engineers experienced a 14.49% increase. In contrast, senior engineers saw a more modest 4.9% rise in compensation [1]. Interestingly, the report also found that professionals with bachelor’s degrees earned higher average salaries than those with master’s or doctorate degrees, pointing to the industry’s emphasis on practical experience over formal academic credentials [1].

Remote work remains a dominant feature of the crypto workforce, with 82% of employees working from home permanently. The number of office-based workers has increased fourfold from 1.5% in 2023 to 6% in 2024, while hybrid schedules remain relatively stable at 11% [1].

The broader financial system is also beginning to take notice. JPMorgan Chase’s CEO, Jamie Dimon, has publicly endorsed the role of stablecoins in improving financial efficiency [3]. Additionally, the U.S. GENIUS Act passed in July 2024 provided a legal framework for stablecoin issuers, reinforcing the legitimacy of these digital assets in the financial system [1].

As stablecoin adoption in payroll continues to rise, so does regulatory scrutiny. In 2024, the U.S. president directed regulators to investigate potential discrimination against crypto firms, underscoring the sector’s growing influence [4]. Despite these challenges, institutional adoption and the preference of 75% of younger professionals for stablecoin salaries suggest that digital payroll is on an upward trajectory [1].

Source:

[1] CoinMarketCap. Title: Crypto salaries triple in 2024 as stablecoins dominate payrolls: Report. URL: https://coinmarketcap.com/community/articles/6893d0374efbf54e608dc793/

[2] Daily. Title: Global race for digital money dominance: Who will set rules for this new era. URL: https://www.dailysabah.com/opinion/op-ed/global-race-for-digital-money-dominance-who-will-set-rules-for-this-new-era

[3] AOL.com. Title: Jamie Dimon just gave a thumbs up to stablecoins—but ... URL: https://www.aol.com/finance/jamie-dimon-just-gave-thumbs-172158916.html

[4] CoinCentral. Title: Trump Takes Aim at Banks That Dumped Crypto Companies. URL: https://coincentral.com/trump-takes-aim-at-banks-that-dumped-crypto-companies/