How DAOs, Startups and Remote Teams Can Use Stablecoin Payments in Portugal

Coins That Stay Stable

When most people think of Norway, what comes to mind is its fjords and welfare system; now it can add a friendliness for things like payroll crypto. An increasing number of Norwegians are turning to stablecoins for purchases, particularly for DAOs, startups and remote teams that require fast, inexpensive and borderless solutions — something that’s becoming increasingly important as the global workforce is becoming more decentralized and dispersed.

This article will explore how workers at home, Web3 communities and Norwegian startups are using stablecoins like USDC and USDT. We will also discuss how crypto is being used in payroll today, and how platforms such as TransFi are making it easier and more compliant to do so.

Stablecoins: A Fresh Way to Imagine Money

These days it isn’t exactly novel to receive cryptocurrency for work, but by 2024, more individuals will have that option. Stablecoins are a kind of banking, a new kind of banking that is faster and cheaper than old-fashioned banks, particularly when you are sending money across a border. They’re less volatile than Bitcoin or Ethereum, because they’re pegged to real money, like the U.S. dollar.

If you’re a Norwegian start-up doing business around the world, or hiring freelancers in other countries, stablecoins are cake. They are fast, dependable and accessible, no matter where in the world you are visiting. DAOs in Norway also need them a lot because they generally operate across borders without a central organization.

A Change in Scandinavia: Crypto Payroll for Remote Crews

Companies are rethinking how they pay workers and contributors who don’t live in the countries where they are based, as more people work from home. The old method of getting paid with high fees, waiting days for the bank to have your paycheck and exchanges of currency is no longer the way to go.

Crypto payroll is a new way to pay remote teams.

An increasing number of new companies and DAOs are now starting to pay people who work from home in Norway, and elsewhere, in stablecoins. Why?

Speed: USDC and USDT payments clear in minutes, not days in Norway.
Less costly: Avoid the fees of SWIFT payments and intermediary banks.
Global reach: This is ideal for teams that are spread over multiple continents.
The ability to track and trace the movement of funds in an immutable blockchain record makes the treasury and audit trail easier to manage.

As a result, blockchain salaries are increasingly popping up in Norway, particularly for those working on Web3 projects and tech companies that are in their early stages.

DAOs, in Norway, Pay Their Contributors in USDC

DAOs require contributors who can join them, wherever they are located in the world. A number of DAOs in Norway pay their developers, marketers and community managers in USDC and USDT. Young professionals who are interested in making money with a flexible schedule and in a currency rather than cash will be attracted to this model.

Norwegian DAOs may manage all of their funds on-chain using smart contracts. This has the obvious implication that every payment that goes in or out of the network can have its flow of funds scrutinized.

This is an ideal arrangement for DAOs because it will save money, eliminate the bank and be decentralized. And now that Norway’s regulations on crypto are becoming more defined, it’s easier than ever to work with these tools without fear of breaking the law.

How Norwegian Startups Use Stablecoins to Pay Their Workers

Many newer companies in Norway, especially those in Web3, gaming, and fintech, work with teams and investors from other countries. These new businesses have to deal with two big issues:

Problems with paying employees in other countries
Receiving cash flow in USD without having a bank account in the U.S.

Stablecoins solve both of these problems. By paying employees and contractors in USDC or USDT, Norwegian startups can cut out the middleman, make transactions easier, and keep their exposure to the US dollar.

This is how they usually do things:

Put USDC or USDT in their treasury.
Use crypto payroll tools or websites like TransFi to pay people automatically.
For tax and compliance reasons, keep an eye on things in real time and check them on the blockchain.

What happened? Teams all over the world are working better and are happier.

Stablecoin Payments Work Well for Teams in Norway That Work from Home

If you're a designer in Oslo working for a startup in San Francisco or a Solidity developer in Bergen working on a DAO in Singapore, it makes sense to get paid in stablecoins. Here are some clear benefits:

Changing FX rates won't cause any delays or losses in currency conversion.
Fast onboarding for new employees or freelancers, no matter where they are.
More freedom with money—right away, you can save, trade, or invest it.
Knowing how much transaction fees will be helps employers plan their budgets better.

That's why more and more people in Scandinavia, especially in Norway's tech industry, are using digital dollars to pay for things.

Also read: Case Study: A Small Business in Turkey Switches to Paying Contractors in USDT via TransFi

Tech Workers in Norway Can Make Cross-Border Crypto Payments

There are a lot of freelance and gig jobs in Norway in the fields of tech, design, and marketing. A lot of these professionals work for clients from other countries who want to pay with cryptocurrency. Old-fashioned banking methods either take a long time to process these payments or charge a lot for wire transfers.

This problem can be solved by allowing Norwegian tech workers to send and receive crypto payments across borders.

Developers and designers get paid in stablecoins within minutes.
You can get money right into a non-custodial wallet or use local onramps to change it into the currency of your choice.
You can still pay your taxes because you can still track and record transactions.

More and more people in Scandinavia are learning about cryptocurrencies, and more and more workers are asking to be paid in stable assets like USDT and USDC instead of waiting for bank transfers or dealing with PayPal's limits.

How TransFi Helps Norway's Stablecoin Paychecks

The growing demand for treasury tools and payments made with stablecoins means that we need infrastructure that is safe, legal, and simple to use. That's when TransFi comes in.

TransFi: Helping Web3 Workers Get Paid All Over the World

TransFi is a service that makes it easier to send and receive stablecoins in Norway and other countries. TransFi has something for everyone, whether you're a small business, a DAO, or a big company.

Sending USDC and USDT to wallets or bank accounts that are linked to them
Automated reporting for crypto payroll solutions that use APIs
On- and off-ramp services that follow the laws of Norway and the EU
Support for digital dollar payments in Scandinavia and other places

TransFi lets Norwegian DAOs and startups manage on-chain treasuries, pay remote teams with confidence, and even settle contracts with contractors in other countries, all with low fees and high compliance.

Conclusion

People using crypto at work is no longer rare. DAOs pay people in USDC in Norway, and Norwegian startups pay their workers in stablecoins. The benefits for both employers and employees are too big to ignore: faster payments, lower costs, full transparency, and access to a global pool of talent.

As rules get better and infrastructure providers like TransFi make it easier to use, stablecoin payments will become the norm for remote teams, digital startups, and decentralized organizations in Norway.

In the future, payroll will be on-chain in Norway and all over the world.

FAQs

1. Why are people in Norway starting to pay with stablecoins?

Stablecoin payments are faster, cheaper, and don't have to go through borders. This is great for Norway's growing remote and decentralized workforce.

2. What stablecoins do people in Norway use the most to pay their workers?

USDC and USDT are the most popular stablecoins in Norway for paying employees, sending invoices, and making DAO contributions.

3. Is it against the law for DAOs in Norway to pay people in crypto?

Yes. Thanks to new rules and clear instructions, DAOs in Norway can now use stablecoins to handle their payroll and treasury in a way that follows the rules.

4. How does TransFi help DAOs and startups in Norway?

TransFi offers legal crypto payroll services that let you pay out stablecoins right away, keep track of your money, and connect to both crypto and regular financial systems.

5. What are the risks of using stablecoins to pay people in Norway?

Stablecoins are less volatile than other cryptocurrencies, but users still have to keep track of their money, pay taxes, and make sure they follow the rules in their area.

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