Deel adds stablecoin wallet for contractors

The wallet is launching first in Latin America, with early access beginning in Argentina

Deel has added a stablecoin wallet for contractors as demand grows for dollar-backed pay in markets facing currency volatility.

The Deel stablecoin wallet lets eligible contractors hold earnings in a dollar-backed balance, earn rewards and spend from the same platform they use to get paid.

The wallet is launching first in Latin America, with early access beginning in Argentina.

Contractors in other Latin American markets will be added over the next few weeks, followed by APAC, MENA and Africa.

Contractors who have completed know-your-customer checks on Deel are eligible.

Contractors can hold earnings as DLUSD, an internal USD-denominated digital balance designed to track the value of the US dollar on a one-to-one basis and be redeemable within Deel.

They can also opt into Earn to be eligible for rewards generated through Morpho, with no lock-up period. Contractors can move funds back to their Deel balance and withdraw them at any time.

A Deel Card, coming later this month, will allow contractors to spend from their stablecoin balance internationally.

According to Deel, 85 percent of contractors in Argentina chose to be paid in USD rather than local currency in 2025.

Thierry Edde, Head of Crypto at Deel, said: Millions of contractors around the world watch their earnings lose value the moment they land. Today we give them the infrastructure to change that.

A dollar-backed balance inside the platform they already use to get paid, rewards that accrue automatically, and a card to spend anywhere. No new account or learning curve required. This is another important step in building the financial infrastructure global workers deserve, Edde said.

The wallet is powered by Stripe’s stablecoin infrastructure. DLUSD is created through Bridge’s Open Issuance infrastructure, while Privy handles the wallet layer.

Rewards can accrue through Morpho, supported by Sentora’s vault.