Deel chooses Stripe to create a stablecoin wallet to help millions of contractors hold, earn, and spend globally

<figure><img src="https://imgix.cosmicjs.com/c1738320-ad5e-11f1-88c6-910437611bfe-deel-newsroom-4000x2000-1.png" alt="Deel and Stripe"></figure>

SAN FRANCISCO AND DUBLIN—Stripe, the programmable financial services company, today announced that Deel is using Stripe to enable millions of contractors across 150+ countries to hold, earn, and spend a US dollar backed balance.

Deel is a global payroll and compliance platform that supports more than 40,000 businesses and 1.5 million workers worldwide. Today, the company is launching a stablecoin wallet to help their contractors around the world hold earnings in DLUSD, Deel's USD-denominated balance, be eligible to earn rewards on their holding, and spend anywhere.

In markets like Argentina and Turkey, a salary paid in local currency can fluctuate between 20% and 40% of its value in a single year. According to Deel, in 2025, 85% of contractors in Argentina wanted to be paid in US dollars rather than Argentine pesos. That’s now possible with Stripe’s stablecoin infrastructure.

"As Deel simplifies global work for more businesses and workers around the world, the way people get paid has to evolve with it,” said Alex Bouaziz, Co-founder and CEO of Deel. “Contractors want dollar-backed pay they can hold, earn on, and spend without leaving the platform. Stripe's stablecoin stack gives us the infrastructure to make that happen, simply and compliantly, at scale."

Deel collects payments from employers and pays out those funds to contractors around the world. When an employer pays Deel, Stripe powers the direct debit collection and screens for fraud. Bridge, a Stripe company, then converts those funds from US dollars into DLUSD—a custom stablecoin issued through Bridge's Open Issuance—which lands in the contractor's Deel balance, held in an embedded Privy wallet, also a Stripe company. The Deel Card will let contractors spend their stablecoin balance anywhere in the world.

Every transaction is conducted on Tempo, so payments settle nearly instantly and at a fraction of the traditional cross-border cost.

The mechanics of Tempo, Bridge, and Privy are invisible to the contractor. What they see is their earnings, landing in their account quickly and accruing in a US dollar-denominated balance.

“Deel is at the forefront of stablecoin innovation, using the stack to grow their global capabilities with ease and give contractors new superpowers,” said Henri Stern, CEO of Privy. “With Stripe's crypto infrastructure under the hood, Deel gets tighter control, better economics for the business, and a seamless experience for their end users."

Deel is one of the first companies to combine Stripe's payments infrastructure, Bridge's Open Issuance, and Privy's embedded wallets to create a simple and smooth experience for their end users all around the world.

The Deel stablecoin wallet is available today in Argentina, with remaining LATAM countries in the next few weeks and APAC, MENA, and Africa to follow.