Mercuryo data shows stablecoins dominate crypto payroll off‑ramps

Stablecoins accounted for 57 % of all off‑ramp transactions in the first half of 2026, up from 25 % a year earlier, as remote workers increasingly receive salaries in digital dollars [2]. The surge signals a shift toward crypto payroll and a growing demand for seamless fiat conversion.

At a glance

Stablecoin off‑ramp surge

Mercuryo’s platform recorded a jump from 25 % to 57 % of off‑ramp transactions being USDC or USDT between H1 2025 and H1 2026 [2]. The total turnover share rose from 30 % to 56 % in the same period, indicating that not only more transactions but also larger values are moving through stablecoins. By contrast, other digital tokens saw only a 38 % increase in off‑ramp activity, meaning roughly 80 % of the overall rise in off‑ramp volume stemmed from stablecoins [2].

Payroll drives demand

The growth aligns with expanding crypto payroll services. Rise’s 2025 Crypto Payroll Report noted that 25 % of businesses already use crypto for payroll and that more than half of worker withdrawals now occur in stablecoins across 190 + countries [2]. In 2024, stablecoins comprised 65 % of all crypto payroll transactions [3], reinforcing their role as the primary vehicle for salary payments. Workers in inflation‑hit economies, such as Brazil—where 90 % of $318.8 bn crypto flows were stablecoin‑linked—benefit from the low‑cost, high‑speed nature of these digital dollars [2].

Consistent weekly activity

Unlike traditional banking, stablecoin cash‑out activity remained steady throughout the week. Weekend transaction volumes averaged about 86 % of weekday levels, highlighting continuous demand for on‑demand fiat conversion outside normal banking hours [2].

Regulatory tailwinds

The regulatory environment is becoming more supportive. In the United States, the GENIUS Act outlines a framework for stablecoin issuance, reserve backing, and consumer protections, which could further bolster institutional confidence and expand stablecoin use in payments and cross‑border transfers [2].

What to watch

• Off‑ramp share thresholds: Monitor whether stablecoin off‑ramp share breaches 60 % in H2 2026, which would confirm a continued dominance trend.
• Regulatory milestones: Track the U.S. GENIUS Act implementation timeline for potential impacts on stablecoin liquidity and compliance costs.
• Payroll adoption rates: Watch for updates from Rise’s payroll reports to see if the 25 % business adoption rate rises above 30 % in the next year.

The data suggests stablecoins are moving from a niche hedge to a mainstream payroll instrument, driven by faster, cheaper cross‑border payments and growing regulatory clarity. Whether this momentum sustains will hinge on continued corporate adoption and the evolution of the legal framework governing digital dollars.