Paystand's Strategic Expansion into Crypto Payroll
Paystand has acquired Bitwage, a prominent crypto payroll platform, aiming to create a decentralized payment network. By joining forces, they intend to extend their global payment networks through improved deployment of blockchain solutions. CEO Jeremy Almond emphasized the partnership's potential for instant, borderless payments to optimize international business transactions.
Bitwage, known for its crypto payroll advancements, processes up to $500 million yearly and uses stablecoins for transactions. This acquisition aims to augment the current payment infrastructure, focusing on expanding the use of USDC and USDT in global B2B settlements.
"For years, our team used [Bitwage’s] platform to pay international vendors and contractors in stablecoins, and many of us—including myself—received portions of our payroll and bonuses in Bitcoin. We saw firsthand how the platform delighted customers..." — Jeremy Almond, CEO, Paystand
Community and industry response has been positive, with a focus on improved payment efficiencies. Jeremy Almond remarked on Bitwage's power to enable instant global liquidity, while Jonathan Chester highlighted the use of Bitwage's proprietary B2B payout engine and its ability to scale enterprise operations.
Implications for Stablecoin Adoption in Global Markets
The integration of stablecoins into payroll systems like Bitwage's might encourage traditional firms to adopt crypto, affecting the mainstream acceptance of USDC and USDT significantly.
According to CoinMarketCap, USDC is priced at $1.00 with a market cap of $75.78 billion, maintaining a stable 24-hour trading volume of $20.52 billion. The price has shown minimal fluctuations over recent months, suggesting stable market conditions. This data was updated at 23:47 UTC on November 7, 2025.
The Coincu research team suggests that the acquisition could drive regulatory discussions around stablecoins, emphasizing the need for compliance as transactions grow. The integration of programmable FX networks might set a precedent for future crypto-financial mergers, impacting tech and finance ecosystems.