Even though crypto winter has settled in, remote workers in Latin America and elsewhere still want digital currency in return for their labor.
About 5% of all payments accepted by remote workers were taken in crypto in the first six months of the year, up from 2% in the last six months of 2021, according to more than 100,000 worker contracts analyzed by Deel, which helps companies hire and pay people in more than 150 countries. More than two-thirds of the crypto withdrawals happened in Latin America.
Remote workers' increased demand for getting paid in crypto assets might surprise some, given the $2 trillion crash that has wiped out some of the industry's biggest names and exposed hundreds of thousands of individual investors to steep losses. But cryptocurrencies have proven to be a lifeline in unstable Latin American economies like Brazil, Argentina and Venezuela.
In Argentina -- one of the most popular locations for remote workers -- it's common to pay them in crypto to circumvent...
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