Payroll Platform Gusto Adds USDC Payments on Solana for Global Contractors

Gusto, handling tens of billions annually, now enables same-day stablecoin payouts worldwide via USD Coin on the Solana blockchain.

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Summary

Gusto, a major payroll processing platform managing tens of billions of dollars in payments each year, has integrated USD Coin (USDC) on the Solana blockchain. This move allows companies to pay contractors globally with stablecoins, offering same-day settlement. The integration marks a significant step in using blockchain-based payment instruments for faster, borderless transactions in payroll services.

Terms & Concepts
  • USD Coin (USDC): A U.S. dollar-pegged stablecoin designed to maintain a 1:1 value with USD for low-volatility transactions.
  • Solana: A high-performance blockchain platform known for fast transaction speeds and low fees.
  • Stablecoin: A cryptocurrency pegged to a stable asset, such as fiat currency, to reduce price volatility.