Crypto accepted here. Residents in nations with volatile economies are more likely to receive their pay in cryptocurrency, according to global hiring platform Deel.
Shannon Karaka, head of expansion ANZ of Deel, told Cointelegraph that in general, “we find that people typically only withdraw part of their pay in crypto, which could mean they are still using it as a long-term investment vehicle as well,” before adding:
“From what we’ve seen in the field, getting paid in crypto is most attractive to three main groups of people: those who use the tool to hedge against local currency instability, those working in jurisdictions with dated local banking systems that can slow down payroll and those who are adding some crypto coin to their investment portfolio. The majority of our crypto withdrawals are coming out of LATAM and EMEA, which is likely driven by the first two use cases.
Deel sourced the data from over 100,000 cross-border worker contracts on the platform between January and July 2022. The firm helps businesses compliantly hire, onboard and pay people in different countries. It noted that LATAM tops the list of regions hiring internationally.
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