Papaya Global and Fireblocks have announced a strategic partnership aimed at enabling real-time workforce payouts for both banked and unbanked workers worldwide. As part of the collaboration, Papaya Global has introduced Banco Wallet, a new global workforce wallet built on Fireblocks’ secure digital asset infrastructure to modernize cross-border payroll and payments.
As organizations increasingly rely on distributed and project-based workforces, traditional banking systems have struggled to meet the demands of global employment. Industries such as media production, energy, maritime logistics, and gaming frequently deploy talent across borders for short-term engagements often in regions where access to local banking is limited or nonexistent. At the same time, international payroll continues to be slowed by lengthy settlement cycles and high intermediary costs. Banco Wallet addresses these challenges by enabling employers to pay employees, contractors, and vendors across more than 180 countries using both fiat currencies and stablecoins.
“This partnership introduces meaningful innovation to one of the most complex areas of enterprise payments global payroll,” said Michael Shaulov, CEO of Fireblocks. “Banco Wallet highlights what’s possible when modern payroll solutions are built on purpose-designed digital asset infrastructure, delivering the governance, security, and reliability enterprises require.”
HR Technology Insights : Learning Tree Launches Comprehensive AI Workforce Solutions
Banco Wallet is powered by Fireblocks’ end-to-end digital asset platform, combining embedded wallets from Dynamic, a Fireblocks company, for account creation and management, with Fireblocks’ treasury, reconciliation, and settlement capabilities. The solution also leverages the Fireblocks Network for Payments to support secure, scalable stablecoin transactions and seamless fiat-to-stablecoin and stablecoin-to-fiat conversions.
These capabilities allow Papaya Global to support both fiat and stablecoin payouts while maintaining enterprise-grade security, operational controls, and compliance standards across global jurisdictions.
“Global payments should move as fast as global work,” said Eynat Guez, CEO of Papaya Global. “With Banco Wallet, we’re redefining how companies pay their workforce making it faster, more flexible, and more accessible for employees and contractors anywhere in the world.”
HR Technology Insights : Pebl Launches Crypto-Ready Payroll as Global Pay Preferences Evolve
Banco Wallet supports multi-currency balances, credit card connectivity, remote family payouts, and optional yield-earning features. Employers can enable instant global payouts without requiring workers to switch banks, open new accounts, or wait days for international transfers to clear while also reducing costs compared to traditional banking-based payment methods.
HR Technology Insights : HR Path Chooses GTT to Provide Global Network Connectivity for Strategic Digital Transformation
To participate in our interviews, please write to our HRTech Media Room at info@intentamplify.com
Source: prnewswire
Your source for breaking news in HR innovation The HRTech Media Room is the dedicated news and updates division of HR Technology Insights, focused exclusively on delivering the latest market intelligence from the world of HR technology. With a pulse on emerging trends, product launches, funding updates, strategic partnerships, and industry movements, our team ensures you stay informed and ahead of the curve. Backed by a team of researchers and editors with deep expertise in HR tech and enterprise solutions, the Media Room brings you timely, verified, and concise reporting designed for busy HR professionals and tech decision-makers. Whether it's a breakthrough in AI-powered recruitment or a disruptive HR SaaS startup entering the scene, we cover what matters—fast. Stay informed with HRTech Media Room—your trusted lens on the dynamic world of HR innovation.
TeamViewer partners with Thrive to embed Digital Employee Experience (DEX) capabilities into Thrive’s NextGen managed services platform.
Netchex introduces OneScreen Payroll, a unified payroll dashboard that delivers real-time visibility, proactive alerts, and simplified payroll processing.
