Papaya Global, one of the global payroll and payments platforms, and Fireblocks, the platform securing more than USD 5 trillion in digital asset transfers annually, recently announced a partnership to power real-time payouts for the world’s banked and unbanked workforce. Banco Wallet, the new global workforce wallet, is powered by Fireblocks’ secure digital asset infrastructure and unlocks payment capabilities for global employers, overcoming the limitations of legacy financial systems.
As more industries expand to distributed workforces, traditional banking infrastructure has struggled to keep pace. Sectors such as production and media, oil and gas, maritime shipping, and gaming frequently deploy talent across borders for brief projects, many of whom lack access to local banking services. Cross-border payroll remains constrained by long settlement times and high intermediary costs. Banco Wallet is an omni-wallet, enabling employers to pay employees, contractors, and vendors across more than 180 countries using fiat and stablecoins alike.
“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.”
Banco Wallet is powered by Fireblocks’ digital asset infrastructure, combining embedded wallets by Dynamic (a Fireblocks company) for account issuance and management with Fireblocks’ platform for treasury operations and reconciliation, and the Fireblocks Network for Payments for secure, scalable stablecoin payment flows and fiat-stablecoin-fiat conversions.
These capabilities allow Papaya Global to deliver fiat and stablecoin payouts while maintaining the operational controls, security standards, and compliance requirements expected in enterprise payments.
“Global payments should move at the pace of global work,” saidEynat 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.”
Banco Wallet includes credit card connectivity, can hold funds in multiple currencies, and offers remote family payouts and yield-earning options. Companies can adopt instant global payouts without requiring workers to change banks, open new accounts, or wait days for international transfers to settle, while benefiting from lower costs than traditional bank-led flows.
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