Originally published on: December 17, 2024
Global payroll provider Remote is revolutionizing the way United States-based companies pay their contractors in 69 countries by offering USD Coin (USDC) as a payment option. This groundbreaking feature is made possible through Remote’s collaboration with payment provider Stripe.
According to the company’s latest announcement, the addition of stablecoin payments enhances Remote’s cutting-edge automation tools for contractor onboarding, invoicing, and payment processing. This development comes at a time when contractor management capabilities are rapidly evolving to meet the changing demands of the post-COVID global hiring landscape.
Contractors now have the option to receive payments in Circle’s USD Coin on a Base wallet address. Base, powered by the Coinbase layer-2 network, was introduced in August 2023. The seamless integration of USDC payments allows Remote’s employer customers to pay for services in US dollars, providing contractors with a reliable store of value amidst economic uncertainties.
CEO of Remote, Job van der Voort, highlighted the advantages of using USDC, emphasizing its stability and ability to protect against inflation and economic volatility. By leveraging Stripe’s platform, accounts can be settled almost instantly, eliminating the need for lengthy bank transfers and currency exchange procedures.
Previously, Remote payments via Stripe Connect were restricted to the recipient’s local currency or a limited selection of European currencies for European recipients. Remote and Stripe both conduct rigorous Know Your Customer (KYC) verification processes as part of the contractor onboarding procedure.
Stripe made a significant move in the summer of 2024 by introducing USDC payment services, marking a return to the crypto space after discontinuing Bitcoin payments in 2018. The collaboration between Stripe and Coinbase laid the foundation for USDC support on Base, which was officially launched in October.
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