Stablecoin Payroll Is Turning Off-Ramps Into Everyday Finance
Stablecoins are moving deeper into the machinery of global payroll, with new Mercuryo data showing that USDC and USDT accounted for 57% of accepted crypto off-ramp transactions during the first half of 2026, up from 25% a year earlier.
Summary:
- USDC and USDT accounted for 57% of accepted Mercuryo off-ramp transactions in H1 2026.
- Stablecoin cash-outs increased 446% year over year, far faster than other crypto assets.
- More than half of withdrawals on payroll provider Rise now occur in stablecoins.
- The growth shifts crypto infrastructure toward payroll, remittances and everyday dollar access.
According to the official announcement, Their share of off-ramp turnover climbed from 30% to 56%, while stablecoin cash-out transactions surged 446% year over year. The numbers point to a change in how digital dollars are being used: rather than remaining primarily trading instruments, stablecoins increasingly sit between employers paying global workers and employees converting those earnings into local currency.
The strongest signal is not stablecoin volume, but where it ends
Large stablecoin transaction volumes are no longer unusual. What makes Mercuryo’s latest dataset more relevant to payroll is that it measures off-ramping, where crypto is exchanged back into fiat.
That is closer to an observable real-world use case.
During H1 2026, stablecoins generated roughly 80% of the overall increase in Mercuryo off-ramp transactions, while the number of stablecoin cash-outs rose 446% from a year earlier. Transactions involving other digital assets increased only 38%.
Mercuryo’s figures come from transactions processed on its own platform, so they should not be interpreted as representing the entire global crypto market. They do, however, provide a useful view into how customers of a large payment infrastructure provider are actually converting digital assets into traditional currencies.
Payroll explains why stablecoins behave differently from Bitcoin
The appeal of stablecoins for payroll is less about crypto speculation and more about the problems created by cross-border employment.
A company may employ a developer in Argentina, a designer in Turkey and a consultant in the Philippines while generating revenue in U.S. dollars. Traditional payroll can involve correspondent banks, currency conversions, local banking schedules and multiple intermediaries.
A dollar-backed stablecoin changes the settlement layer.
The employer or payroll platform can transfer a digital representation of dollars to the worker, who then decides whether to retain the stablecoin, spend it through compatible payment infrastructure or convert it into local fiat.
Rise provides evidence that this model is already operating at meaningful scale. The payroll company says it has processed more than $1 billion in payroll volume, supports workers across more than 190 countries, and now sees more than half of worker withdrawals occur in stablecoins.
Its 2025 report also estimated that more than 25% of businesses globally used some form of crypto payroll, up from 15% in 2023.
The important distinction is that employers do not necessarily need to run entirely in crypto. Rise, for example, allows companies to fund payroll in fiat or stablecoins while workers select their preferred withdrawal method each cycle.
Why off-ramps become more valuable as payroll grows
Paying workers in stablecoins solves only half of the problem.
A worker may receive USDC within minutes but still need Brazilian reais for rent, euros for taxes or pesos for household expenses. That makes the off-ramp, rather than the blockchain transfer itself, one of the critical pieces of infrastructure.
A simplified flow looks like this:
This helps explain another unusual feature in Mercuryo’s data: stablecoin cash-out activity barely disappears at weekends.
Weekend transaction volumes averaged roughly 86% of weekday levels in H1 2026. Traditional banks may operate reduced settlement schedules outside business days, but blockchain balances remain transferable continuously.
For a trader, that flexibility is convenient. For a worker whose salary or freelance payment arrives across time zones, it can be part of basic cash-flow management.
Visa is validating the same use case from the other direction
Stablecoin payroll is also attracting companies well outside crypto-native infrastructure.
Visa launched a Visa Direct pilot in late 2025 allowing businesses and platforms to fund payouts in fiat while recipients receive USD-backed stablecoins such as USDC directly into wallets. Visa specifically positioned the service for creators, freelancers and gig workers, particularly in markets where access to conventional banking can be slow or constrained.
The model is notable because the sender does not need to become a crypto treasury operation.
READ MORE: IMF Warns Stablecoins Could Undermine Capital Controls
Fiat can enter one side of the payment flow and stablecoins can emerge on the other. That reduces the behavioral change required from businesses while giving workers access to blockchain settlement.
Visa separately supports seven-day stablecoin settlement for selected issuers, reinforcing the broader move toward payment infrastructure that operates beyond conventional banking hours.
Stablecoin payroll is really a dollar-access story
There is another reason USDC and USDT dominate these flows rather than Bitcoin or Ethereum.
Workers receiving a salary generally do not want the purchasing power of next month’s rent exposed to double-digit crypto volatility.
Stablecoins separate the benefits of blockchain settlement from the price risk of a volatile cryptocurrency. A worker can receive a token tied to the U.S. dollar without taking the same market exposure that comes with being paid directly in BTC or ETH.
That feature becomes more valuable in countries where domestic currencies are volatile or access to dollar bank accounts is limited.
It also explains why stablecoins increasingly appear in remittances and payments rather than only on exchanges. Research on stablecoin adoption has linked retail usage to practical functions including payments, value preservation and transfers in markets with unstable currencies or weaker banking access.
The trade-off is that the worker exchanges local-currency risk for exposure to the stablecoin issuer, its reserves, regulatory treatment and the availability of conversion infrastructure.
Regulation is moving closer to the payroll infrastructure
The expansion is happening as U.S. stablecoin regulation becomes more defined.
The GENIUS Act, enacted in July 2025, established a federal framework for payment stablecoin issuance. Treasury’s implementation work covers reserve requirements, anti-money laundering obligations and sanctions compliance for permitted payment stablecoin issuers.
That matters for payroll providers because enterprise adoption depends on more than transfer speed.
Companies need predictable compliance standards, identity checks, accounting treatment and confidence that the stablecoin used for payroll can be redeemed reliably. Regulation cannot eliminate issuer or operational risk, but clearer requirements make stablecoin payment rails easier for corporate finance departments to evaluate.
The next competition is likely to move from issuance to conversion
For years, the stablecoin market focused heavily on which issuer could create the largest supply.
Payroll shifts the competitive question.
If workers are increasingly earning in stablecoins, the valuable infrastructure sits at both ends of the transaction: compliant payroll systems that deliver digital dollars and off-ramps that convert them into usable local money at predictable cost.
Mercuryo’s 446% growth figure suggests that conversion demand can scale much faster than crypto markets themselves when stablecoins become part of recurring financial behavior rather than occasional investment activity.
The data worth watching next are therefore not simply USDC and USDT market capitalization. Payroll withdrawal frequency, off-ramp costs, weekend usage, local-currency coverage and the share of workers who retain stablecoins instead of immediately converting them will provide a clearer indication of whether digital dollars are becoming a genuine salary currency or primarily a faster bridge between two traditional fiat systems.
The information presented in this article is intended for informational purposes only and should not be interpreted as financial, investment, or trading advice. Coinspress.com does not promote or advocate for any particular investment strategy, asset, or cryptocurrency project. Cryptocurrency markets are highly volatile and unpredictable – always perform your own research and seek guidance from a qualified financial professional before making any investment decisions.
Alexander Zdravkov
Reporter at CoinsPress
Alexander Zdravkov is a market analyst and crypto journalist with interests in economics, broader financial markets and digital assets. His journey into crypto began more than four years ago, driven by a fascination with the rapid evolution of blockchain technology and the transformative potential of decentralized finance. He began analyzing market cycles and identifying emerging trends before they reach the mainstream. He holds a degree in International Relations - a background that helped shape his broader perspective on global economics, geopolitics, and the interconnected nature of modern financial markets. Whether covering the latest developments in the crypto sector or exploring broader macroeconomic themes, Alexander focuses on giving readers context rather than simply repeating headlines. During his career, he has authored more than 10,000 articles covering cryptocurrencies, traditional finance, and global market developments. His work spans everything from Bitcoin and altcoins to macroeconomic trends influencing risk assets worldwide.
