The maturity of Ethereum has resulted in growing interest in crypto-based payrolls, particularly among small and medium enterprises.
SMEs in Asia deal with issues like expensive remittance, long processing time for funds transfers across borders, and sudden changes in the value of currencies.
The Ethereum-based stablecoins provide a solution to the problem by facilitating payment transactions that are almost instant and at a very low cost compared to traditional banks.
Large companies are slowly being reassured of Ethereum’s infrastructure and thus, stablecoins are seen as a tool for efficiency rather than speculation.
This is attractive for businesses hiring remote or cross-border talent, where conventional payroll systems remain costly and slow.