Papaya Global has launched a new global workforce wallet with Fireblocks. This partnership aims to speed up and broaden cross-border payroll. Now, employers can make instant international payouts using stablecoin. This helps them avoid the pitfalls of traditional banking.
The new Banco Wallet caters to both banked and unbanked workers. Companies can pay employees, contractors, and vendors in over 180 countries. Built on Fireblocks’ secure platform, the wallet handles payments in fiat currencies and stablecoins. It provides a modern alternative to slow and expensive international transfers.
As organizations rely more on distributed and project-based teams, their financial systems struggle to keep up. Industries like media production, energy, maritime shipping, and gaming often hire talent worldwide for short-term projects. Many of these workers do not have access to local banking services. Lengthy settlement cycles and high intermediary fees have made global payroll a persistent challenge. Banco Wallet aims to address these gaps by enabling near-instant payouts regardless of location.
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“This partnership brings long-awaited innovation to one of the most complex and high-volume payment categories: global payroll,” said Michael Shaulov, CEO of Fireblocks. “Banco Wallet demonstrates what’s possible when modern payment applications are built on purpose-built digital asset infrastructure – delivering the governance and reliability enterprises expect.”
The solution combines several Fireblocks technologies, including embedded wallets from Dynamic for account management, Fireblocks’ treasury and reconciliation capabilities, and the Fireblocks Network for Payments to support secure stablecoin transactions and fiat-to-stablecoin conversions. Together, these components allow Papaya Global to deliver faster payments while maintaining enterprise-grade security, compliance, and operational oversight.
“Global payments should move at the pace of global work,” said Eynat Guez, CEO of Papaya Global. “With Banco Wallet, we’re setting a new standard for global workforce payments – helping businesses pay employees and contractors across borders with greater speed, flexibility, and access to earnings.”
Beyond payroll, Banco Wallet offers multi-currency balances, credit card connectivity, remote family payouts, and optional yield-earning features. Importantly, workers can receive funds without changing banks or opening new accounts, while employers benefit from lower costs compared with traditional bank-led payment rails.
With this launch, Papaya Global and Fireblocks are positioning digital asset infrastructure as a practical foundation for the future of global workforce payments.
