What happened?
The percentage of workers receiving their salary in cryptocurrency has increased significantly, tripling over the past year. According to Pantera Capital’s 2024 Blockchain Compensation Survey, nearly 10% of respondents are now paid in crypto, up from 3% the previous year. This change is largely due to blockchain-native firms and DAOs adopting stablecoins like USDC to pay employees and contributors.
Who does this affect?
This trend affects workers and companies operating in the blockchain and cryptocurrency industries, particularly those with international teams or who are part of decentralized organizations. Employees in roles such as blockchain engineering, product management, legal, and operations are seeing more opportunities to receive part or all of their salaries in digital currencies. It provides a new compensation option, especially for those facing banking restrictions or currency instability in their regions.
Why does this matter?
The shift towards cryptocurrency-based salaries, particularly using stablecoins like USDC, highlights a growing acceptance of digital assets in mainstream payroll practices. It suggests a broader market impact where digital currencies are not just for trading but also practical for everyday use, including salary payments. This trend may encourage more companies to consider crypto integration, impacting how global teams handle cross-border transactions and offering potential savings on transaction fees and settlement times.