Deel: residents of fragile economies more likely to be paid in cryptocurrency
Latin America accounts for 67% of digital asset withdrawals from the platform, while Europe, the Middle East and Africa economic regions account for 24%
24.07.2022 - 07:30
542
2 min
0
What’s new? Deel, a recruitment platform, which also calculates payroll, conducted a survey of 100 000 contract workers worldwide. Cryptocurrencies now account for around 5% of the platform’s payments, compared to just 2% in the second half of 2021. The report notes that residents of fragile economies are more likely to receive cryptocurrency payments. Latin America accounts for 67% of digital asset withdrawals, while Europe, the Middle East and Africa (EMEA) economic regions account for 24%. Residents of the North American and Asia-Pacific regions account for just 7% and 2%, respectively.
What else does the report say? Analysts have identified three groups of people for whom getting paid in cryptocurrency is most preferred: those who use this tool as insurance against local currency instability; those who work in jurisdictions with outdated banking systems that slow down payrolls; and those who add cryptocurrency to their investment portfolios.
Shannon Karaka, head of expansion at Deel, noted that people often only convert a portion of their payroll into digital assets. This could mean that investors are still considering cryptocurrency as a long-term investment.
The most popular cryptocurrency among Deel customers is bitcoin, accounting for 47% of cryptocurrency withdrawals. It is followed by Circle’s USDC stablecoin (29%) and Ethereum (14%).
In June, Yekaterinburg-based IT company Zavod-IT offered employees to be paid in cryptocurrencies such as BTC, ETH, USDT, and XRP. The company’s founder Alexander Protsyuk said that up to 30% of employees switched to the new form of payment. According to him, this should protect them from economic instability.
Useful material?
Telegram 
Twitter Crypto regulations
In turn, the European Commission said that the bank misinterpreted the norms of the law, and in its current form it is already capable of protecting the bloc’s economy
Apr 23, 2025
Market
The product will allow professional investors to track the price of the altcoin without having to hold it directly
Apr 18, 2025
Market
Previously, the PumpFun team launched their decentralized exchange to preserve liquidity in their ecosystem
Apr 17, 2025
Technologies
The company predicts that devices powerful enough to crack a 256-bit key could be available in the next 10 years
Apr 17, 2025
Mining
The collaboration aims to increase decentralization of the blockchain
Apr 15, 2025
Market
The feature will later be available to customers in Europe and Australia
Apr 15, 2025
Cryptocurrency rates
-
Bitcoin
$94 482
BTC
+1.84%
-
Ethereum
$1 776.17
ETH
+1.19%
-
Ripple
$2.19
XRP
+1.19%
-
BNB Smart Chain
$579.4
BSC
+1.23%
-
Dogecoin
$0.181081
DOGE
+3.97%
-
Cardano
$0.71444
ADA
+2.66%
-
Stellar XLM
$0.28307
XLM
+5.13%
-
Bitcoin Cash
$368.79
BCH
+6.11%
-
Litecoin
$85.83
LTC
+5.4%
-
Polkadot
$4.26
DOT
+5.95%