The number of crypto professionals receiving their salaries in digital currencies has skyrocketed in 2024, tripling from the previous year. According to a new report from Pantera Capital, 9.6% of workers in the crypto space are now paid in stablecoins.
Drawing on data from more than 1,600 respondents across 77 countries, the report reveals a clear trend toward blockchain-integrated payroll systems. It also highlights increasing confidence in dollar-pegged assets such as Circle’s USD Coin (USDC) and Tether’s USDt (USDT).
USDC emerged as the dominant choice for payroll, powering 63% of all reported payments, despite USDT being the leading stablecoin in global trading volume. Pantera suggests this may be due to the fact that major payroll platforms like Deel, Remote, and Rippling don’t support USDT—something the report initially attributed to regional bias before further investigation.
Together, USDC and USDT accounted for over 90% of all stablecoin salary disbursements. As of writing, the total stablecoin market cap sits at $268.6 billion, according to DeFiLlama.
Beyond salary payments, the structure of compensation packages in the crypto sector is shifting. Long-term token-based incentives are on the rise, with nearly 88% of vesting plans now extending four years—up significantly from 64% the year prior.
Interestingly, formal education appears to take a backseat to practical experience in this industry. Bachelor’s degree holders reported the highest average salary at $286,039, out-earning those with master’s or doctoral degrees, who earned $214,359 and $226,858, respectively.
USDC Pushes Into Institutional Finance
Circle, the company behind USDC, is making strategic moves to expand its presence in institutional finance. In March 2024, it teamed up with Intercontinental Exchange (ICE), the parent of the New York Stock Exchange, to explore the use of USDC and tokenized assets in global derivatives markets.
By May, Circle had applied for a federal trust bank charter with the U.S. Office of the Comptroller of the Currency—a significant step toward becoming a regulated infrastructure provider for stablecoin-based transactions and custody.
Regulatory momentum also picked up in July, when President Donald Trump signed the bipartisan GENIUS Act into law. The legislation sets clear standards for stablecoin issuers, and Circle’s USDC was frequently cited as a benchmark for regulatory compliance in digital dollar systems.
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