Deel announced a partnership with MoonPay to offer employers the option to pay salaries using dollar-pegged stablecoins. This will be implemented within the UK and the European Union, targeting more than 40,000 businesses.
Deel announced a partnership with MoonPay to offer employers in the UK and the European Union the option to pay salaries in stablecoins. These stablecoins will be pegged to the value of the US dollar, and the company stated they aim to implement the service in more than 40,000 companies.
Deel stated that it will maintain its traditional employer-centric payroll logic, including compliance controls, tax validations, and labor verifications, before transferring the payroll processing to MoonPay’s enterprise infrastructure.
In practice, employers continue to operate within Deel’s existing environment, while MoonPay converts fiat funds into dollar-pegged stablecoins and sends these tokens directly to employees’ non-custodial wallets. The system preserves individual choice: employees can opt to receive stablecoins without needing to modify their base payroll method.
The technical layer enabling this architecture is Iron, the platform acquired by MoonPay in March of last year. Iron provides virtual accounts, on- and off-ramp payment gateways, and global payment channels compatible with over 30 currencies.
Conversion dynamics and Deel strategy
MoonPay has emphasized that its regulatory structure and on- and off-ramp licenses form the foundation of the service. Stablecoins will be deposited into personal wallets under self-custody, reinforcing the employee’s direct control over the funds. When the employee needs liquidity in local currency, they can use conversion tools for over 30 currencies, balancing immediate access to funds with flexibility to access the traditional banking system.
In economies with high inflation or unstable local currencies, this feature can function both as a value preservation mechanism and as an efficiency tool for multinational payrolls. Companies present the model not only as a technological innovation but also as a strategy for reducing costs and currency fluctuations.
The launch is planned for March 2026 and will initially target approximately 40,000 companies in the UK and the European Union. Deel will retain control over payroll compliance, while MoonPay will manage the conversion and settlement infrastructure. Participation will be voluntary for employees, a key element in avoiding mandatory changes in a European regulatory environment particularly sensitive to consumer protection.
