Stellar and Airtm Cut Cross-Border Payroll Costs by 25%

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Stellar Blockchain Drives 25% Payroll Cost Reduction

Stellar has announced its collaboration with Airtm and Bridge, integrating its network to cut cross-border payroll costs by 20โ€“25% since March 2024.

This integration signifies a major advancement in reducing enterprise payout costs, highlighting Stellarโ€™s role in transforming global financial solutions.

Stellar and Airtm, in collaboration with Bridge, have integrated systems to lower cross-border payroll costs by 20-25%. The integration uses Stellarโ€™s blockchain to enable efficient payouts, and Airtm acts as the wallet and payout platform.

โ€œThis collaboration delivers a real, working solution to one of the hardest problems in global finance: real-time payouts to workers navigating currency instability.โ€ โ€” Rubรฉn Galindo Steckel, CEO, Airtm

The integration officially launched in March 2024. Stellar acts as the blockchain rail moving USDC from Bridge to Airtm wallets, with Rubรฉn Galindo Steckel as the CEO of Airtm leading the initiative.

Over 250,000 Recipients Benefit from Airtm System

Over 250,000 recipients globally have benefited from Airtmโ€™s system, processing more than 1.2 million transactions. The initiative is regarded as a flagship use case by Stellar, emphasizing real-world scalability.

Potential financial impacts include average cost savings of 20โ€“25% for enterprises utilizing this system over legacy rails. This change is bolstered by significant transactional data, reflecting substantial operational reliance on the Stellar network.

Blockchain Enabled Payroll Systems Boost Stability

This pattern mirrors similar uses like MoneyGram + Stellar for low-cost remittances utilizing fiat-backed stablecoins on the Stellar ecosystem. Past implementations have proven the efficacy of Stellarโ€™s low-cost transaction approach.

According to experts, using blockchain for such integrations could greatly aid in addressing currency instability concerns, providing real-time payouts and potentially enhancing global payroll systemsโ€™ efficiency and reliability.

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