According to Pantera Capital's annual survey conducted in 2024, the share of workers receiving salaries in cryptocurrency has increased significantly over the past year.
Rise in Cryptocurrency Salary Recipients
In 2024, 9.6% of survey respondents confirmed receiving part of their salary in cryptocurrency, a considerable rise from just 3% in 2023. Meanwhile, the share of workers receiving solely fiat compensation fell from 97% to 89.1%, indicating a shift toward digital asset integration in compensation practices among blockchain-native companies and DAOs.
USDC as the Main Payroll Token
USDC emerged as the dominant token, accounting for 63% of all cryptocurrency-denominated salaries. In comparison, its closest competitor, USDT, holds 28.6%. Other tokens, such as Solana and Ethereum, accounted for less than 3% combined, highlighting a preference for stablecoins over volatile tokens for payroll purposes.
Trends in Payments and Geographical Application
Key factors driving the rise in cryptocurrency salaries include faster transaction settlements, reduced fees, and improved access to dollar-based value in regions with restricted banking systems or volatile currencies. While full salaries paid in cryptocurrency remain uncommon, hybrid arrangements allowing employees to split their compensation between fiat and digital assets are gaining traction.
Overall, the growing popularity of cryptocurrency compensation and the dominance of USDC signal a significant change in payment approaches within the blockchain industry.
