Report: The number of cryptocurrency salary payments will double in 2024.

CN
3 days ago

According to a report by the venture capital firm Pantera Capital, the number of cryptocurrency professionals receiving digital asset compensation has doubled in the past year, with 9.6% currently receiving their salaries in stablecoins.

Based on responses from over 1,600 cryptocurrency professionals across 77 countries, the report highlights a shift towards blockchain-native compensation systems and a growing institutional trust in dollar-backed assets such as USDC Coin (USDC) and USDt.

Circle's USDC leads, accounting for 63% of all cryptocurrency compensation, despite Tether's USDt being the largest stablecoin by global trading volume.

"We initially thought this was because our survey was more Western-focused," the report states. "Upon further investigation, we found a very interesting phenomenon: the major compensation providers in the field (Deel, Remote, Rippling) do not offer USDT compensation services."

The two stablecoins together account for over 90% of the payments reported. According to DeFiLlama data, as of the time of writing, the total market capitalization of all stablecoins is $268.6 billion.

The report indicates that token-based compensation is increasingly being structured around long-term incentives, with nearly 88% of vesting schedules now set for four years, up from 64% the previous year.

The findings suggest that practical experience and technical expertise are often more important than academic credentials in the blockchain industry. Professionals with a bachelor's degree have an average salary of $286,039, significantly higher than those with a master's degree at $214,359 or a doctorate at $226,858.

Circle is actively positioning USDC as a core tool for institutional payments, compensation, and B2B financial infrastructure, rather than just for trading.

In March 2024, the company partnered with the Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange, to explore the integration of USDC and tokenized funds in the global derivatives market.

Two months later, Circle applied for a federal trust bank charter with the Office of the Comptroller of the Currency, which is part of its long-term strategy to provide regulated infrastructure for stablecoin payments, custody, and settlement.

In July, U.S. President Donald Trump signed the GENIUS Act, establishing a bipartisan regulatory framework for stablecoin issuers like Circle. Supporters of the bill view USDC as a model for compliant digital dollars.

Related: Bitwise executive states that the U.S. Securities and Exchange Commission's (SEC) cryptocurrency pivot "has yet to be priced in."

Original: “Report: Cryptocurrency Salary Payments to Double in 2024”

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