Papaya Global and Fireblocks have partnered to launch Banco Wallet, a global workforce wallet that enables real-time payouts in fiat and stablecoins to employees, contractors, and vendors across more than 180 countries. Powered by Fireblocks' secure digital asset infrastructure, the omni-wallet addresses limitations in legacy banking systems, providing instant access to earnings for both banked and unbanked workers in distributed industries.
Quick Intel
Traditional payroll systems often fail to support the growing demand for distributed, cross-border workforces, particularly in project-based sectors where talent is deployed temporarily without local banking access. High fees, slow settlement times, and intermediary dependencies create barriers to timely compensation.
Banco Wallet overcomes these challenges by functioning as a versatile omni-wallet that seamlessly handles both fiat and stablecoin transactions. Employers can initiate payments without requiring recipients to switch banks or create new accounts, ensuring broad accessibility and reducing administrative overhead.
The wallet integrates credit card connectivity for everyday spending, supports holding funds in multiple currencies, enables remote payouts to family members, and offers options for earning yield on balances. This comprehensive feature set empowers workers with greater financial flexibility and immediate access to earnings.
"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."
Powered by Fireblocks' robust digital asset platform, Banco Wallet leverages embedded wallets from Dynamic (a Fireblocks company) for account management, Fireblocks' core infrastructure for treasury operations and reconciliation, and the Fireblocks Network for Payments to handle secure, scalable stablecoin transactions and seamless fiat conversions.
These components ensure enterprise-grade security, compliance, and operational controls while enabling Papaya Global to deliver fast, cost-effective payouts that align with modern workforce needs.
"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."
By combining Papaya Global's expertise in compliant global payroll with Fireblocks' proven infrastructure, Banco Wallet delivers lower-cost alternatives to traditional bank transfers, eliminates multi-day waits, and extends financial inclusion to unbanked workers worldwide. This partnership marks a significant advancement in streamlining cross-border compensation for distributed teams.
About Fireblocks
Fireblocks is the world's most trusted digital asset infrastructure company, empowering organizations of all sizes to build, manage and grow their business on the blockchain. With the industry's most scalable and secure platform, we streamline stablecoin payments, settlement, custody, tokenization, and trading operations enabling - everything from institutional finance to consumer-facing digital experiences across the largest ecosystem of banks, payment providers, stablecoin issuers, exchanges and custodians. Thousands of organizations - including Worldpay, BNY, Galaxy, and Revolut - trust Fireblocks to secure more than $10 trillion in digital asset transactions across 150+ blockchains. Learn more at fireblocks.com.
About Papaya Global
Papaya Global is the global payroll and payments platform for distributed workforces, enabling organizations to manage and pay employees, contractors, and vendors in over 160 countries. Papaya provides a unified payroll and payment experience with full compliance, tax, and workforce operations support.
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