At Multis, our goal is to make crypto payments as smooth as possible - including crypto payroll. This is why it was a priority for us to allow users to make mass payments on their Multis accounts- paying up to 65 different 0x 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 an interesting investment opportunity. Paying salaries in crypto is of course perfect for companies with distributed, 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 wallets in a process that can take hours. As a team grows and interest in getting paid (or partly paid) in crypto increases, a manual setup 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."
The advantages of Mass Pay on Multis
Making batched payments from your Multis account is easy- you can save money and time easily when making payments
- Built-in accounting features
- Gas fees are payable in whatever currency you are transacting in
How to Make Mass payments on Multis
Now paying multiple people on Multis is easy!
From the dashboard simply click on "Pay" in the left-handed bar. 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 "do 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, labeling of payments before they are made means that the accounting is taken care of and can be easily exported as a CSV.