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The variety of professionals which might be receiving their salaries in crypto has tripled between 2023 and 2024 with USD Coin (USDC) the popular fee choice amid Circle’s enterprise push, a report by Pantera Capital discovered
The findings had been primarily based on greater than 1,600 responses from individuals dwelling throughout 77 international locations that every one work within the crypto trade.
Pantera Capital mentioned in its report that 9.6% of crypto professionals had been paid in digital property in 2024, up from the three% determine in 2023.
Circle’s USDC Leads The Approach In Payrolls
Regardless of Tether’s USDT being the most important stablecoin by market cap and essentially the most traded by way of every day volumes, rival token USDC emerged because the clear favourite for crypto funds.
Within the report, the agency mentioned that USDC accounted for 63% of all crypto payrolls.
Pantera Capital added that they initially thought USDC’s dominance had one thing to do with the survey being skewed “extra western.”
“After digging in additional, we discovered it very attention-grabbing that not one of the main payroll suppliers within the area (Deel, Distant, Rippling) provide USDT for payroll,” the agency mentioned.
Mixed, USDT and USDC accounted for over 90% of the reported funds.
Circle Pushes For Enterprise Adoption
The choice of USDC over USDT could have one thing to do with Circle’s aggressive enterprise push because it tries to place USDC for institutional funds, B2B monetary infrastructure and payroll.
In March final 12 months, Circle partnered with the mother or father agency of the New York Inventory Trade (NYSE), Intercontinental Trade (ICO). With this partnership, the businesses are exploring USDC and tokenized fund integration in world derivatives markets.
Circle then went on to use for a federal belief financial institution constitution with the US Workplace of the Comptroller of the Forex two months after saying that partnership.
Circle’s momentum was additional boosted by its NYSE debut earlier this 12 months and US President Donald Trump’s signing of the GENIUS stablecoin act.
The GENIUS Act is now legislation, the primary federal framework for fee stablecoins.
Be part of @ddisparte and Corey Then for Circle’s Government Insights session, The GENIUS Act Period Begins, to be taught what this implies for fee stablecoins, innovation, and US world management.
🕚 August… pic.twitter.com/Ysc2dW36Fi
— Circle (@circle) July 30, 2025
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