Rain, a leading stablecoin-focused payments platform, has partnered with Toku, a renowned compliance provider for digital asset compensation, to launch a groundbreaking real-time stablecoin payroll solution for global employers. This system enables companies to instantly fund and settle payroll in stablecoins, adhering to local labor and tax laws in over 100 countries. Initially, employers can pay workers in Circle's USDC, Ripple's RLUSD, and Global Dollar's USDG, with more stablecoins to be added based on customer demand and compliance reviews. Toku's integration with existing payroll systems such as ADP, Workday, and Gusto allows clients to opt-in for the stablecoin-based payroll feature in under a week.
This new solution leverages the benefits of stablecoins, including cheaper and faster transfers, to revolutionize payroll systems. It also enables companies to rethink their payment structures, including earned wage access, where employees can receive payment immediately after completing a job. According to Farooq Malik, CEO and co-founder of Rain, 'By combining Rain's on-chain infrastructure with Toku's compliance expertise, we're bringing the benefits of stablecoins to the most important payment of all: your paycheck.'