Remote USDC Crypto Payouts for Contractors

Cryptocurrency Payouts for International Contractors

Receiving compensation in cryptocurrencies, while initially seeming unconventional, presents a potentially valuable solution for international contractors. Remote, a platform facilitating global hiring and contractor management, is launching cryptocurrency payout options this Tuesday.

Expanding Payment Options Globally

U.S.-based companies will now be able to remit payments to contractors utilizing stablecoins across 69 different countries. This functionality is being implemented through a strategic partnership with Stripe.

USDC: A Stable and Reliable Choice

Currently, the service exclusively supports USDC, a prominent cryptocurrency stablecoin overseen by Circle. The value of one USDC is consistently pegged to one U.S. dollar, effectively mitigating the price volatility typically associated with other cryptocurrencies for both companies and contractors.

Benefits of Crypto Payouts

For contractors, accepting payment in USDC translates to quicker transactions and avoids potential delays often encountered with traditional international money transfers. These crypto payouts are processed on Base, a Layer-2 blockchain developed by Coinbase.

Furthermore, receiving funds in a USD-denominated cryptocurrency is advantageous. Individuals residing in countries experiencing currency devaluation can preserve and potentially enhance their purchasing power by holding USDC.

Flexibility and Spending Options

Contractors have the flexibility to convert USDC to their local currency when making purchases, depositing funds into their bank accounts, and retaining a portion within their cryptocurrency wallet.

Some individuals may even opt to utilize debit cards issued by cryptocurrency exchanges for seamless USDC spending.

Seamless Integration with Remote

During the account creation process on Remote, contractors can specify their preferred payment method: either local currency via bank transfer or USDC.

Selecting USDC requires providing a wallet address for invoice submissions. Upon invoice approval within the Remote dashboard, the platform automatically initiates payment requests and transfers funds using the designated payout method.

Future Expansion Plans

Remote intends to extend this feature to customers based in additional countries and broaden cryptocurrency support to include popular options like Bitcoin and Ethereum, catering to those with a strong preference for these digital assets.

Here's a summary of the key advantages: