MoonPay has struck a deal that could enable it to help some 40,000 companies in the United Kingdom and European Union pay their employees in stablecoins, the company said Tuesday.
Powered by its "fiat infrastructure" subsidiary Iron, MoonPay will work with its new partner Deel, a payroll and human resources platform, in order to allow companies to pay workers with stablecoins that are deposited directly into employees' wallets.
While the service will initially launch in the UK and EU, MoonPay teased that it also aims to launch in the U.S. as well.
"Deel will build on Iron rails to power stablecoin payroll, delivering fast, seamless global payouts at scale," Iron founder and CEO Max von Wallenberg said on X. "The numbers speak for themselves: Deel processed $22 billion in global payroll in 2025 and they're making a bold bet on crypto infrastructure."
The payroll platform's ties to crypto go back at least as far as 2021, when Deel said workers could be paid in USDC or Solana. That year, Deel raised $425 million in a Series D fundraising.
At the end of last year, self-custody wallet company Exodus Movement partnered with MoonPay and M0 to launch a U.S. dollar-backed stablecoin.