Even in countries where Bitcoin is legal, it may not be legal to pay employees in Bitcoin—at least directly. Many countries, including the US and Canada, require wage payments to be made in fiat currency to comply with labor standards. Because of this, it’s better to offer base pay in fiat currency and then partner with cryptocurrency exchange services like Coinbase or Bitwage that provide streamlined payroll solutions. These crypto exchange services can convert local currency into the crypto of the worker’s choosing using crypto accounting software. Alternatively, stablecoins—virtual currencies backed by fiat—work well as a substitute because they combine the operational advantages of crypto with the price stability of bank-issued money. USDC, for example, is a US-dollar stablecoin: 1 USDC represents $1USD in assets stored off-chain.