Deel teams up with BVNK to pioneer instant payments for workers worldwide
The story of Deel and BVNK began differently than most partnerships. BVNK was scaling globally as a lean fintech, hiring talent across 20+ countries without the infrastructure to set up local entities everywhere.
Deel solved that problem. Around one in five BVNK employees are now hired through Deel.
But as the two teams worked together, they realized there was more to build. Deel was solving global hiring friction. BVNK was solving global payment friction. Together, they could pioneer instant payments for workers worldwide.
The challenge: getting paid across borders
The global freelance workforce is thriving, growing 15x faster than traditional jobs, while the gig economy market is expected to triple in size by 2032. With platforms like Deel making it easier to hire and manage talent globally, businesses can now access talent anywhere – but paying that talent remains a friction point.
Today's cross-border payment systems are slow and expensive. Workers wait days for money, only to lose out to unfavourable currency conversions at the last mile. Employers are held back by tied-up capital and exposed to foreign exchange risk.
“Our contractors in volatile markets kept telling us about the same problems – money arrives late, loses value in transit. Adding more fiat options wasn't solving it. So we added stablecoins as a withdrawal option, powered by BVNK.”
The solution: stablecoin payouts with BVNK
Dollar-pegged stablecoins like USDC have emerged as a fast lane for paying contractors and gig workers globally. In Spring 2024, Deel teamed up with BVNK to enable instant payments for workers worldwide. Through this partnership, contractors can receive wages in stablecoins – settling in minutes instead of days.
How it works:
- Deel funds their BVNK account in USD, EUR or GBP. Funds are held in a safeguarded virtual account.
- A contractor chooses to withdraw funds in stablecoins via Deel's HR portal, connecting their blockchain wallet and sending the payment request.
- BVNK converts funds into the specified stablecoin and sends it to the contractor's wallet. Settlement happens in minutes.
“We had the infrastructure designed for faster, always-on global settlement workflows. Deel had the workforce platform to put it to work. Together, we could solve this.”
The results: seamless global payments
Since launch, 10,000+ contractors in 100+ countries have opted to be paid in stablecoins. With this solution, Deel ensures a seamless experience for contractors while remaining at the forefront of global payments innovation. Money no longer gets trapped by borders, currency, or outdated infrastructure. That's borderless work in action.
Following strong contractor adoption, Deel expanded the partnership in 2026 to full-time employee stablecoin salary payouts. Employees opt in once; stablecoins land on payday automatically. Employers get zero new admin – Deel handles everything, powered by BVNK's infrastructure.
Companies can also fund payroll accounts in stablecoins directly, creating a single frictionless rail from employer to worker. Whether paying contractors or employees, whether funding in fiat or stablecoins, the complexity disappears. Money moves instantly across borders.
That's borderless work. That's borderless money.
