Deel Introduces Stablecoin Wallet to Mitigate Currency Volatility

Deel, a global workforce management company, has introduced a stablecoin wallet designed to support contractors in emerging markets. The new service allows users to hold and manage digital dollar balances directly within their Deel accounts, simplifying the process of preserving earnings in countries with currency volatility.

The launch marks the latest step in Deel's strategy to integrate stablecoins across its global payments infrastructure. The company has already allowed contractors to withdraw earnings in stablecoins and enabled businesses to fund payroll directly from stablecoin treasuries.

Deel's stablecoin wallet uses a combination of crypto and payments providers within the Stripe ecosystem, including Bridge for DLUSD issuance and Privy for the wallet layer. Transactions settle on Tempo, a blockchain network developed with backing from Stripe and venture capital firm Paradigm.