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Almost 10% of Payroll Withdrawals from African Contracts are in Crypto, Says Latest Report

According to a report by remote hiring startup, Deel, workers in Africa and Latin America are showing the most interest in being paid in crypto.

The report reveals that Latin America has experienced 52% of crypto withdrawals out of overall salary withdrawals, while Africa’s figure stands at 34%.

Furthermore, the report shows that workers globally are more interested in receiving payments in bitcoin.

  • Bitcoin – 63%
  • Ethereum – 7%
  • USDC – 7%
  • Solana – 2%
  • Dash – 2%

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SEE ALSO: MicroWork Pilot Shows Crypto MicroPayments Could Save Kenyans $80 Million via Cross-Border Remittances

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According to Deel, Latin American workers are increasingly focused on remote work for international organizations.

The report explains that this is likely a result of the decline of local economies and jobs due to the after-effects of the Covid-19 pandemic.

Furthermore, the report, focused on tech and remote work, said that the number of companies hiring in the region has now risen to more than 800% year-on-year, YoY, which is more than double the hiring rate for countries outside the continent.

“Almost 10 percent of payroll withdrawals from contracts in Africa are in cryptocurrency while top countries in Africa where hiring is growing include Nigeria, South Africa, and Kenya.”

– Deel Report

Deel makes software technology that automates payroll, HR, compliance, perks, benefits, and other capabilities needed to hire and manage a global team.

According to Deel’s report, the number of contractors using Deel in Africa has doubled in the last six months.

See full report here.

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RECOMMENDED READING: [WATCH] Making Digital MicroWork Accessible and Available on Mobile Devices in Kenya via the Celo Blockchain

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