USDC Drives 3x Surge in Crypto Payrolls Over Past Year

With the increased adoption of cryptocurrency and its inherent nature of facilitating simplified, cross-border transactions, there has been a massive crypto payroll surge over the last year.

According to Pantera Capital’s 2024 Blockchain Compensation Survey, published on 5 August 2025, more than three times as many people received compensation in cryptocurrency compared to the previous year.

Additionally, the survey highlighted USDC standing out as the most popular digital asset for payroll purposes. Interestingly, USDC made up 63% of all salaries paid in digital assets, way ahead of USDT’s 38.6% share.

Other tokens like Solana and Ethereum trailed behind, representing just 1.9% and 1.3% respectively.

The survey articulated that in 2023, only 3% of its participants received a portion of their salary in crypto. By 2024, that percentage had more than tripled to 9.6%.

The number of crypto pros paid in digital assets tripled in 2024 now 9.6% get salaries in crypto.

Circle’s $USDC leads with 63% of all crypto payrolls, per Pantera Capital. #CryptoSalaries #USDC #web3jobs pic.twitter.com/IICCXRf0tU

— @LanCentralCoin – Daily (@CentralNewsYT) August 7, 2025

Blockchain-native companies and DAOs (Decentralised Autonomous Organisations) particularly pushed this phenomenon by increasingly opting to pay their employees or contributors in stablecoins and tokens.

Meanwhile, the percentage of workers being paid entirely in fiat currency fell from 97% to 89.1%. This shift signals a growing openness among organisations to embed digital assets into routine payroll practices, especially for roles that are cross-border in nature or operate within decentralised frameworks.

The survey takes into account blockchain engineers, product managers, legal experts and operations staff across the sector and highlights the notion of stablecoins moving beyond their traditional roles in trading and DeFi, and emerging as practical instruments for payroll and cross-border payments, especially in blockchain-native organisations.

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Factors Driving USDC’s Role In Crypto Payroll Surge

For teams that are globally distributed, the survey finds that crypto-based compensation makes a lot of sense when they compare its advantages to traditional systems

Near-instant settlements, reduced transaction costs and seamless access to dollar-dominated value in regions that face banking hurdles or currency volatility are all great strengths of a crypto-based remuneration system.

Moreover, Circle’s commitment to financial integrity and its institutional-grade stability, demonstrated by its move to publish detailed reserve breakdowns and its secure backing through US treasuries, has boosted confidence among its user base.

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Hybrid Payroll Arrangements Are Gaining Traction

Although crypto is growing in stature, fully crypto-based salary payment is still in its infancy. What workers are going for is more of a hybrid arrangement where companies are allowing their employees to receive a part of their salary in fiat and the rest in digital.

This flexibility allows employees to dollar-cost average into crypto markets and spend seamlessly via a Web3 wallet.

While Pantera Capital’s report did not disclose any regional trend, Asia-based teams and contractors likely fuel the uptick in crypto-denominated salaries by favouring stablecoins for low-cost, cross-border transactions.

This shift coincides with the maturing of crypto-native businesses, which are now formalising operations. Improvements made in treasury management tools, real-time payroll infrastructure and accounting platforms are playing a key role in bringing down the logistical barriers to paying in crypto.

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