A salary that keeps its value.A salary that keeps its value.

The problem

Take an engineer in Monterrey who signs a full-time contract with a global company. The salary is set in pesos. By the end of the year it buys less than it did the day they signed. They would rather be paid in a stronger currency, one they can hold, and nothing in the contract lets them choose.

Deel runs hiring and payroll for companies around the world. Its contractors already have choices. They invoice, pick a currency and handle their own taxes. Its full-time employees do not. Across much of Latin America, labor law sets how a salary is paid, down to the currency, and the penalties for getting it wrong fall on the employer. So employers do not experiment. For a salaried employee, that has meant one way to be paid. One bank account, in their home country, in the local currency.

Why Mural

Payroll leaves no margin for error. When a run fails, someone does not get paid that day. In Latin America, paying a salary in dollars is a legal question before it is a product one. Pay has to land in a local account in the employee's name before any of it can be converted. That takes a regulatory and compliance layer in every country. Most companies stitch it together from local banks, payment providers and compliance vendors, market by market.

So Deel built on Mural. Mural's forward-deployed engineers embedded with Deel's team on the ground and built that layer alongside them. The account that receives an employee's pay in local currency is the same account that holds it in dollars, so nothing new has to be built for each balance. Mural handles the licenses, the bank relationships and the local payment rails, and runs compliance on every employee who opts in. Deel builds what its employees see.

What Deel built

Deel's salaried employees in Latin America can now choose to hold their pay in dollars, as dollar-denominated stablecoins, instead of keeping all of it in local currency. Payroll still runs in local currency, as the law requires. What the employee holds it in is now their call.

It is rolling out across Colombia, Brazil and Mexico at the same time, with plans to expand to every market in Latin America.

Absorbing the complexity

No licenses to acquire, no compliance program to stand up, no local rails to build in each country. Deel kept its people on hiring and payroll. A better way to get paid is one more thing Deel can offer the companies that hire through it.

The engineer in Monterrey is still paid in pesos. What that salary becomes is now their choice.