The adoption of cryptocurrency for salary payments has seen a significant increase in recent times, according to the latest report from Pantera Capital. The survey revealed that the share of workers receiving part of their salary in crypto has more than tripled in the past year, with USDC emerging as the most popular digital asset for payroll.
In 2023, only 3% of respondents reported receiving any part of their salary in cryptocurrency. However, this figure jumped to 9.6% in 2024, indicating a growing trend among blockchain-native firms and DAOs to compensate employees and contributors using stablecoins and tokens.
The survey also highlighted a shift away from traditional fiat payments, with the percentage of workers paid exclusively in fiat dropping from 97% to 89.1%. This demonstrates a greater willingness among companies to incorporate digital assets into their day-to-day operations, especially in roles that operate across borders or within decentralized ecosystems.
Stablecoins have become the standard choice for crypto wages, with USDC leading the way. The dollar-pegged stablecoin accounted for 63% of all crypto salaries, surpassing USDT and other tokens like Solana and Ethereum. This dominance of USDC in payroll highlights its reliability and regulatory compliance, particularly following Circle’s monthly reserve disclosures and access to US Treasuries.
The survey also revealed a growing trend of workers opting to split their salaries between cash and crypto. While full salary payments in cryptocurrency are still uncommon, hybrid arrangements are gaining popularity. This flexibility allows employees to choose between fiat and digital assets, enabling them to dollar-cost average into crypto markets or use Web3 wallets for direct spending.
The rise of on-chain compensation is likely driven by Asia-based teams and contractors who rely on stablecoins for cost-effective cross-border payments. With the improvement of treasury management tools, real-time payroll rails, and accounting platforms tailored for digital assets, the logistical barriers to paying in cryptocurrency are gradually diminishing.
Overall, the findings from Pantera Capital’s survey indicate a growing acceptance and integration of digital assets into the traditional workforce. As more companies embrace crypto payments, the landscape of salary compensation is evolving to accommodate the changing needs of a global and decentralized economy.