Released in March, the State of Global Hiring Report highlights the dynamism of employment on a global scale. But also the propensity to receive part of one’s salary in cryptocurrency. Thanks to the study conducted by the payment manager Deel, we learn more about the emerging phenomenon of the payment of wages in crypto and the regions of the world in which this practice is most widespread. Europe is late.
Slowly but surely
As you can regularly read on the Journal du Coin, an increasing number of people want to be paid in crypto. Whether it is a personal initiative or by benefiting from a program planned via your companythe still discreet trend is gradually beginning to assert itself.
In addition to developers and other profiles working in cryptos, the first promoters of the salary paid in cryptos are mainly American sportsmen, footballers or NBA players. But the idea also seems to be germinating among our athletes in France. At the end of last year we learned that Lionel Messi entered this field there.
More recently, Olympique de Marseille midfielder Valentin Rongier told us during a exclusive interview, to be interested in the idea and even admitted to having already discussed it with his manager. If this did not succeed, he nevertheless says he is completely open on this issue and would be ready to take part of his salary in cryptocurrency.
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Bitcoin, Ethereum, Solana and USDC
The Deel company carried out its study using data from more than 100,000 employment contracts from 150 countries around the world. Surprisingly and logically, Latin American countries are the ones that see the highest number of employees paid in cryptocurrency. Indeed, Bitcoin, Ethereum and other cryptocurrencies are mainly used (and much more democratized) in countries with an unstable economic and monetary environment. Argentina and its constant inflation is a very good example.
Among all the employees who accepted payment of their salary in cryptos, 52% are from South America, 34% from the Middle East, 7% from North America and 7% from Asia Pacific. Europe is conspicuous here by its absence. And it is not the latest legislative advances that will remedy this, but quite the opposite.
This time no surprise Bitcoin is the king when it comes to taking his salary in crypto assets. Resilient, reliable and secure, the most capitalized token in the crypto sector is very popular with employees: 63% of individuals paid in cryptos are paid via Bitcoin. Then come Ethereum (second largest capitalization of the crypto market and USDC (7% for both). Note that USDC has only been available to users of Deel solutions since the last quarter of 2021 and seems to attract as much as theEthereum.
being a stablecoin Indexed on the dollar (1 USDC = 1 $), this option represents a major advantage to protect against the natural volatility of cryptocurrencies once the payment has been received. Given the interest in this active crypto, stable by definition, it is a safe bet that it will occupy an even more important place in this chart in the coming months.
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