Mass Pay: A first step towards crypto payroll

October 28, 2021
Samantha Fields

At Multis, our goal is to make crypto payments as smooth as possible - including crypto payroll. This is why we're thrilled to announce that users will be able to make mass payments on their Multis account- paying up to 65 different wallets in a single transaction. This is a huge time saver and is paving the road for recurring payments and more complex crypto payroll operations.

Crypto payroll: huge benefits but often manual set-ups

The benefits of getting a paycheck (or part of a paycheck) in crypto are many: funds hit your account instantaneously, payments aren't mediated by banks, and exposure to digital assets can be a great investment opportunity. Paying salaries in crypto is of course perfect for companies with dispersed, international teams.

The only problem? Paying salaries in crypto can be time consuming and anxiety producing. Very often, founders have to make individual payments to team members from their own wallet in a process that can take hours. As a team grows and interest in getting paid (or partly paid) in crypto increases, a manual set-up can't be scaled. One founder we spoke with talked about the struggle he faced, as a growing number of his employees wanted to be paid in USDC: "I do everything on my personal wallet which is massively unscalable, error prone, makes me the bottleneck in payroll processing, and doesn't integrate with our accounting in any way."

Mass payments: A step towards crypto payroll

Now paying multiple people on Multis is easy!

From the dashboard simply click on "Move Money" in the upper-right hand corner and click on "Pay Someone". From there, you'll be walked through a 4-step process where you'll be asked to:

  • Choose your currency (and remember, on Multis you can pay gas fees in whatever currency you're transacting in)
  • Label your transaction - making bookkeeping even easier
  • Add any notes or attachments for your own record keeping
  • Either manually enter in contacts from your company address book or upload a CSV with up to 65 ETH wallet addresses

With Multis, founders don't have to "go it alone". Our integration with Gnosis Safe means that  you can invite your team to Multis and delegate tasks like payments to operations professionals. What's more, labelling of payments before they are made means that the accounting is taken care of and can be easily exported as a CSV.

Do you want to pay your team in crypto?

At the moment we're still pre-launch. If you're interested in getting on the waiting list go to Multis.co to sign-up or send us an email at support@mutis.co

Get the Guide!
Breaking Legacy: A CFO's Guide to DeFi & Digital Assets
Decentralized Finance (or DeFi) and digital assets aren't just a fad or a bubble. They have the potential to provide value to people typically underserved by traditional banking systems, in particular small and medium sized enterprises. Learn how SMEs can leverage decentralized financial services including:
High interest savings accounts that earn more than traditional bank accounts
Accepting payments in digital assets before incorporation
Receiving instant loans
Invoice financing solutions
Paying salaries instantly in digital assets with no cross-border payment fees
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