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FollowingFrom Argentina to more than 80 countries, in just one month
Global payroll payment company Deel has expanded its stablecoin wallet to more than 80 countries in Latin America, Africa, the Middle East and Asia-Pacific, only about a month since the product was first launched in Argentina.
Deel serves 40,000 companies and 1.5 million employees in 150 countries. This rapid expansion highlights the rapid spread of dollar-denominated salary demand from the initial test market. Argentina is a natural starting point: the country's peso has depreciated by 20% to 40% against the U.S. dollar in a year, and 85% of Deel's Argentine contractors in 2025 require wages to be settled in U.S. dollars rather than pesos.
This wallet allows these employees to hold income in the form of DLUSD. DLUSD is a balance that tracks the value of the U.S. dollar and can always be converted into U.S. dollars on a 1:1 ratio within the platform, designed to maintain an equivalent pegged to the U.S. dollar.
Wallet operation
From a technical perspective, DLUSD is released through Stripe's Bridge Open Issue platform, settled on the payment Layer 1 network Tempo incubated by Paradigm and Stripe, and stored in the Privy embedded wallet. In addition, users can choose to receive reward revenue through Morpho, while SentoraHQ supports the treasury infrastructure of revenue products. After the revenue function is turned on, rewards will begin to accumulate immediately, and the balance can be withdrawn at any time without a lock-up period, but the rate of return is variable and not guaranteed. Income incentives are promotional incentives, not interest or investment returns. Participation in this function requires that the contractor has completed Deel's KYC verification.
Deel Card, a debit card linked to DLUSD wallet balances, is also in the planning and is expected to be launched in the third quarter of 2026.
This wallet is not for employers who want to pay in cryptocurrency. The employer's operating process is still consistent with standard Deel salary payments, and the wallet is only on the contractor's side. Markets, including EU countries and jurisdictions subject to compliance restrictions, were excluded from the scope of this promotion.
