As more businesses seek to compensate employees in cryptocurrency, Gilded Mass Pay facilitates ETH and stablecoin payments to 500 employees in one seamless transaction, reducing time and gas fees
Gilded, a B2B payments and accounting platform for cryptocurrency, announced availability of Mass Pay, a full-service solution that allows businesses to pay up to 500 employees at once in ethereum-based tokens such as stablecoins. Mass Pay enables any business to become a blockchain business, facilitating one streamlined crypto transaction that saves them time and prohibitive gas fees when on the Ethereum blockchain.
TrustSwap, the Full-Service Digital Asset Ecosystem, is already using Gilded’s Mass Pay feature to pay their employees in their native token, SWAP. “We’re super impressed with how easy and efficient [Mass Pay] is,” said Taylor Zork, CFO of TrustSwap. “Mass Pay is much quicker and less expensive than sending each payment individually. We’re proud to be using the first true DeFi payroll solution.”
The recent rise in retail and institutional adoption of cryptocurrency, which has driven the total crypto market value above $2 trillion and created a succession of all-time highs for Bitcoin and Ethereum, has also fomented interest in a “crypto wage alternative,” the desire for employees to get paid — and for businesses to pay them — in digital currency. We’re seeing early signs of adoption. Earlier this year, the mayor of Miami suggested the city pay municipal workers and accept tax payments in cryptocurrency, in February Twitter’s CFO said the company is exploring paying employees in Bitcoin, and earlier this month the NBA’s Sacramento Kings announced they would soon offer Bitcoin as a salary option to the entire organization.
“In a climate with an increasingly tech-savvy workforce that’s embracing the maturing crypto ecosystem, the appetite for salaries paid in crypto is growing rapidly,” said Gil Hildebrand, CEO of Gilded. “But until now, all crypto payroll solutions were custodial, eliminating many of the benefits of using blockchain technology for payments. Mass Pay is a non-custodial, comprehensive solution with built-in accounting that enables any business to become a blockchain business. Mass Pay gives businesses a single streamlined solution to pay up to 500 employees in crypto, saving them time and gas fees and making paying employees in cryptocurrency easier than ever.”
A crypto payroll benefits both employees and employers, allowing for more freedom over funds, fast global payments, and the removal of traditional banks who intermediate and delay payments.
Launched in 2018, Gilded is a full-service option for a business’s entire back office workflow, helping top blockchain companies scale by automating everything from payments to accounting. For companies that are paying employees or freelancers in crypto, or for those who would like to start, Gilded Mass Pay helps make the process seamless. Additionally, with national currency-pegged stablecoins, safer payment rails, and secure wallets, it’s never been easier to start paying employees in cryptocurrency.
With the launch of Mass Pay, Gilded is now the only solution on the market today that makes it possible for a business to:
- Accept payment in crypto
- Pay employees and contractors in crypto
- Account for crypto payments with zero headaches
- Support a wide range of custodial and non-custodial wallet choices