Pantera Capital's 2024 Blockchain Compensation Survey reveals a threefold increase in cryptocurrency-based salary payments over the past year, with 9.6% of workers now receiving partial or full crypto compensation—up from just 3% in 2023. USDC leads this surge, capturing 63% of crypto payroll transactions, while USDT follows at 28.6%. Solana (1.9%) and Ethereum (1.3%) trail significantly as companies shift from volatile assets to stablecoins for payroll reliability.
Dan Morehead, CEO of Pantera Capital, emphasized: "USDC and USDT collectively account for over 90% of crypto salaries, cementing their status for payroll stability and liquidity." The trend is fueled by demand for faster cross-border settlements, lower fees, and dollar access in unstable economies. Projected payouts will exceed $12 billion in 2025, driven by platforms like Circle and Bitwage enabling compliant stablecoin payrolls for global teams.
Hybrid compensation models—splitting salaries between fiat and crypto—are gaining traction, particularly in Asia, where stablecoins bypass banking restrictions. Monthly reserve disclosures by Circle boosted USDC's trust, with its U.S. Treasury-backed transparency contrasting with traditional payment inefficiencies.