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The use of crypto for employee compensation has grown sharply over the past year, and USDC has emerged as the clear frontrunner among stablecoins in payrolls. A new survey by Pantera Capital reveals that the share of professionals receiving at least part of their salary in crypto has tripled since 2023, signaling a larger shift in how companies compensate global and decentralized teams.
In 2023, just 3% of workers reported receiving any crypto as part of their pay. That figure climbed to 9.6% in 2024, thanks to increased adoption by Web3 startups, DAOs, and crypto-native companies. Meanwhile, the number of employees paid only in fiat fell from 97% to 89.1%, indicating growing openness to digital assets in compensation models.
USDC Takes the Lead in On-Chain Salaries
Among all cryptocurrencies used for payroll, USDC dominated the field with a 63% share. The stablecoin’s appeal lies in its 1:1 peg to the U.S. dollar, low volatility, and growing regulatory transparency. USDT was the second most-used token with 28.6%, while Solana (1.9%) and Ethereum (1.3%) made up smaller portions of crypto-based pay.
The report highlights how USDC’s growing reputation—bolstered by monthly reserve disclosures and access to U.S. Treasuries—has strengthened its position as the top choice for businesses looking to incorporate stablecoins into their operations.
Hybrid Salary Models Gaining Popularity
Although full salaries paid entirely in crypto remain relatively rare, a hybrid approach is becoming more common. More companies now allow employees to split their compensation between traditional fiat and crypto. This flexible model gives workers the ability to dollar-cost average into crypto markets or make on-chain purchases directly from Web3 wallets.
This trend reflects the increasing maturity of crypto infrastructure. With the rise of treasury management tools, automated accounting platforms, and blockchain-based payroll systems, the technical barriers to adopting digital compensation are steadily being removed.
Stablecoins Becoming Payroll Tools, Not Just Trading Assets
The survey from Pantera Capital covered a range of professionals in the blockchain sector, including engineers, product managers, legal experts, and operations staff. One of the biggest takeaways is that stablecoins are no longer confined to trading or DeFi protocols. Instead, they’re being used for practical business functions—especially payroll and international payments.
For globally distributed teams, stablecoins provide several key advantages:
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Fast settlement times
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Lower transaction fees
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Access to U.S. dollar value in regions with limited banking infrastructure or volatile local currencies
These benefits have made stablecoin payrolls increasingly attractive, especially for companies with cross-border teams or contractors based in regions like Southeast Asia and Latin America.
Why Crypto Compensation Is on the Rise
The shift to digital pay is also fueled by changes in how crypto-native companies operate. As the ecosystem grows more structured, many firms are adopting real-time payment rails and more compliant financial systems. What was once a novelty—getting paid in crypto—is now becoming a legitimate and often preferred option for professionals in the space.
According to Pantera, the motivation behind their annual compensation survey is to close the gap in transparency around how blockchain firms pay their teams. The lack of reliable data has historically made it difficult for workers and companies to benchmark salaries or develop consistent compensation models.
With surveys like this one—and the ongoing evolution of stablecoins like USDC—crypto payments are clearly entering a more mainstream phase of adoption.
