Deel said on Aug. 17 that its DLUSD stablecoin wallet is live in more than 80 countries, 11 weeks after a launch limited to Argentina.
The expansion routes a payroll platform that processes $22 billion a year into distributing dollar balances to contractors in markets where local banks make dollar accounts hard to get, and into lending those balances out through Morpho markets on Tempo. Deel is the reference customer for Tempo Earn, the yield product the Stripe- and Paradigm-incubated chain launched on Aug. 12.
"Get paid, then hold, earn, and spend, in DLUSD, a dollar-backed currency," Deel wrote, crediting Bridge, embedded-wallet provider Privy, Tempo, Morpho and risk curator Sentora. Three of those five belong to Stripe: Bridge issues the token, Privy supplies the wallets and Tempo settles the transfers.
Deel serves more than 35,000 customers and 1.5 million workers across 150-plus countries, according to its Series E announcement, which valued the company at $17.3 billion on a $300 million round led by Ribbit Capital with Andreessen Horowitz and Coatue.
Bridge, the Stripe subsidiary that now posts under the @Stablecoin handle, confirmed its role. "After getting paid through Deel, contractors can hold funds as DLUSD, Deel's custom stablecoin issued through Bridge's Open Issuance platform," the company wrote.
