Deel teams up with BVNK to pioneer instant payments for workers worldwide
From fractional workers to independent contractors, the global freelance workforce is thriving, but paying wages overseas remains a challenge for businesses – and a headache for workers who are often left waiting days for payment. In 2024, payroll innovators Deel teamed up with BVNK to 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 global gig economy market is expected to triple in size by 2032. And with the rise of global HR services and employer of record platforms like Deel – it’s easier than ever for businesses to hire and manage freelance talent globally.
Despite this, paying workers overseas remains a challenge. Today’s clunky cross-border payment systems can leave workers waiting days for money – only to lose out to unfavourable currency conversions at the last mile. Employers meanwhile are held back by tied-up capital and exposed to foreign exchange risk.
“Payment systems shouldn't stand in the way of a business hiring and paying the right talent. As businesses expand globally, they need payroll solutions that work for their distributed teams.”
The solution: stablecoin payouts with BVNK
Dollar-pegged stablecoins like USDC have emerged as a new fast lane for paying contractors and gig workers in the global South. In 2025, there were 250 million+ active stablecoin users globally, and $9 trillion+ stablecoin payments.
In Spring 2024, Deel teamed up with BVNK to enable instant global payments for workers worldwide. Through this partnership, global contractors employed via Deel can fast-track their wage payments with dollar-backed stablecoins, receiving them in minutes not days.
How it works:
- Deel funds their BVNK account in USD, EUR or GBP. Funds are held in a safeguarded virtual account.
- A freelancer chooses to withdraw their funds in stablecoins via Deel’s HR portal, connecting their blockchain wallet and sending the payment request.
- BVNK receives the API call, converts funds into the specified stablecoin and sends it to the freelancer’s blockchain wallet. Funds settle in minutes.
“We’re delighted to give global workers the option to get paid in stablecoins – whether to protect their purchasing power, or simply to ensure prompt payment. Since we launched with BVNK, we’ve seen an uptake in the number of workers opting to be paid in stablecoins across more than 100 countries.”
The results: seamless global payments
Since the partnership between Deel and BVNK began, 10,000 contractors in 100+ countries have opted to be paid faster in stablecoins. In the last 9 months, these workers have received 125,000 successful payouts.
With this solution, Deel can ensure a seamless service for contractors, while remaining at the forefront of global payments innovation.
