Deel launches DLUSD stablecoin for dollar pay without US bank

Deel announced on June 3 the launch of DLUSD, a USD-backed stablecoin and built-in wallet that lets contractors receive, hold, earn rewards on and spend dollar balances without a U.S. bank account. The stablecoin is integrated into Deel’s app so workers see a dollar balance rather than interacting directly with blockchain technology.

Deel, which serves about 40,000 businesses and 1.5 million workers across 150 countries, chose Argentina for the initial rollout after the peso lost between 20% and 40% of its dollar value over a year. The company reported that in 2025 roughly 85% of its Argentine contractors preferred to be paid in dollars rather than pesos.

DLUSD uses Stripe’s crypto tools for stablecoin issuance, Privy for wallet infrastructure and Tempo, a payments-focused Layer 1 blockchain, for settlement. Deel described the combination as the first enterprise use of all three in a single offering.

The wallet is embedded in the Deel app so contractors can manage balances and spend funds without leaving the platform. Deel plans to expand DLUSD across Latin America in the coming weeks and later to Asia-Pacific, the Middle East and North Africa, and Africa.

On June 2, Mastercard announced expanded settlement capabilities across its global payments network to support multiple stablecoins, including USDC, Ripple’s RLUSD, Paxos-issued PYUSD, USDG, USDP and SoFiUSD, across eight blockchains such as Ethereum, Solana, Base and XRPL. Mastercard noted the added rails will enable intraday, weekend and holiday settlement options that do not rely on traditional bank hours.

Raj Dhamodharan, Mastercard’s executive vice president for Blockchain and Digital Assets, described the next phase of stablecoin adoption as one focused on settlement timing and liquidity.

Estimated stablecoin transaction volume reached about $46 trillion last year, and the global stablecoin market had a market capitalization of roughly $317 billion as of April 2026, up more than 50% from a year earlier. Analysts project stablecoins could represent about 3% of all U.S. dollar payments in 2026 and around 10% by 2031.