Originally published on: December 17, 2024
Remote, a global payroll provider, has partnered with payment provider Stripe to offer United States-based companies the ability to pay their contractors in USD Coin across 69 countries. This new option extends Remote’s existing suite of services and aims to streamline the payment process for employers and contractors alike.
According to Remote’s recent announcement, stablecoin payments using USD Coin perfectly complement the company’s advanced automation features for contractor management, including onboarding, invoicing, and payment processing. This move reflects a growing trend towards post-COVID hiring models that prioritize flexibility and efficiency.
Contractors can now receive Circle’s USD Coin on a Base wallet address, leveraging the Coinbase layer-2 network. This arrangement enables recipients to store value in USD, providing a potential hedge against economic instability and inflation in their local currencies. The USD Coin payments are settled instantly through Stripe, eliminating the delays associated with traditional bank transfers and foreign exchange procedures.
Stripe, a leading payment service provider, reintroduced its USDC payment services in the summer of 2024, marking a renewed commitment to crypto payments after discontinuing Bitcoin payment options in 2018. By partnering with Coinbase and integrating USDC support on Base, Stripe has positioned itself as a pioneer in offering seamless and efficient cryptocurrency payment solutions.
The collaboration between Remote and Stripe represents a significant step towards modernizing global payment processes and embracing the benefits of stablecoin transactions. As the world economy continues to evolve, innovative solutions like USDC payments offer a promising avenue for businesses to stay ahead of the curve and optimize their financial operations.