Papaya Global Launches Workforce Wallet

Papaya Global, a global payroll and payments platform, has launched Banco Wallet, a new workforce wallet designed for real-time global payouts. The product is powered by Fireblocks, a digital asset infrastructure provider securing trillions in annual transaction volume. The wallet is aimed at employers managing distributed teams across multiple countries.

Banco Wallet is built to address limits of traditional cross-border payroll, including slow settlement times and high banking fees. It allows companies to pay employees, contractors, and vendors in more than 180 countries using both fiat currencies and stablecoins. The wallet is designed to work for banked and unbanked workers, without requiring them to open new bank accounts or change existing financial arrangements.

The infrastructure combines embedded wallets from Dynamic, a Fireblocks company, with Fireblocks’ core platform for treasury management, reconciliation, and secure payment routing. It also uses the Fireblocks Network for Payments to support stablecoin transfers and fiat-to-stablecoin conversions at scale.

According to the companies, the solution maintains enterprise-grade security, compliance, and operational controls. Banco Wallet supports multiple currencies, credit card connectivity, remote family payouts, and optional yield features. Employers can adopt instant global payments while reducing costs compared to traditional bank-led payroll systems.

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