Deel, the global workforce platform used by more than 40,000 businesses to hire and pay teams across 150+ countries, has launched a stablecoin wallet for contractors — a dollar-backed balance embedded directly inside the platform contractors already use to receive pay, manage contracts, and handle invoices. The wallet is initially live in Latin America, with APAC, MENA, and Africa to follow.

Built for Markets Where Local Currency Erodes Earnings

The product targets a concrete problem in emerging markets: currency depreciation. In markets such as Argentina, Turkey, and Ukraine, a salary paid in local currency can lose between 20 and 40 per cent of its value in a single year. Deel said that in 2025, 85 per cent of contractors in Argentina chose to be paid in USD rather than local currency — a signal it says reflects accelerating demand for dollar-backed pay infrastructure across high-inflation markets.

The wallet allows contractors to hold earnings as DLUSD, Deel’s internal USD-denominated digital balance pegged 1:1 to the US dollar and redeemable within the platform at any time. Contractors can opt into an automatic rewards feature powered by Morpho with a single tap, with no lock-up period. A Deel Card, enabling global spending directly from the stablecoin balance, is due to launch later this month.

Infrastructure Running Invisibly Beneath the Platform

On the technical side, Deel is using Stripe’s stablecoin stack: DLUSD is issued through Bridge’s Open Issuance infrastructure, wallet management is handled by Privy, rewards accrue via Morpho supported by Sentora’s vault, and settlement runs on Tempo — the payments-focused blockchain incubated by Stripe and Paradigm. None of this is visible to the contractor, who sees only a dollar balance inside their existing Deel account.

“Millions of contractors around the world watch their earnings lose value the moment they land. Today we give them the infrastructure to change that. A dollar-backed balance inside the platform they already use to get paid, rewards that accrue automatically, and a card to spend anywhere. No new account or learning curve required.” — Thierry Edde, Head of Crypto, Deel

Completing Deel’s End-to-End Stablecoin Stack

Deel said the contractor wallet completes a stablecoin infrastructure it has been building across 2026. Businesses have been able to fund global payroll from a stablecoin treasury since January, with no FX conversion and settlement in minutes. Stablecoin salary payouts were extended to employees in the US and Eurozone in May. With the contractor wallet now live, Deel says every participant in the global workforce — employer, employee, and contractor — can operate on fiat or stablecoins, on one platform, under a single compliance layer.