You already mentioned payroll and vendors, so I think you're already thinking of what I'm about to suggest... and then I might try to talk you out of it. When I think of business cryptocurrency financial stuff, I also think of those things. Employees need to be paid, and they might want their paycheck in crypto or in fiat, or a combination of the two. Vendors that need to be paid will usually just want fiat, either t…
Payrolls are done by accounting, but they use an interface to the bank to make the actual payments. It's usually a CSV file or similar, which is uploaded by the accounting software, and has just the amounts and account numbers. Checks are not used outside of USA.
As for paying people in crypto, we considered it (I was the engineer working on it) and then we decided against it because it’s a terrible idea.
1. Crypto transactions aren’t reversible so reversing fraud is impossible.
2. Users don’t fully understand how blockchainy things work. Providing customer support to explain wtf any of it means would be a nightmare.
3. Users can’t use crypto for anything. I mean maybe buying illegal things on DarkNet markets but other than that the entire blockchain ecosystem—billions of dollars of investment—has yet to build a single usable product solving a real problem.
4. Currency changes value all of the time. What if someone can’t pay rent because they were paid in Internet coins that lost value in the time between their pay period and the end of the month? They’re just…kind of fucked? And again, most people don’t really understand what’s going on here so “it’s their fault” is a very uninteresting response. Don’t set people up to make poor decisions with ramifications they don’t understand, even if we can absolve ourselves of theoretical accountability on Internet forums.
5. In the US you can’t pay people in whatever you want. These regulations exist for good reason, back from when companies would try to pay people in store credit. Is blockchain whatever a real currency or a narrow utility that locks people in? Legally it’s a grey area (or was when we worked on it.)
Overall, it’s just a terrible idea. No one is sitting at home thinking, “damn, I wish I could be paid in blockchain.” I mean, they kind of where when crypto was going up and up and up and it was some speculative get-rich-quick pump and dump, but not anymore. (And anyway, we maybe shouldn’t encourage people being paid in speculative coins with no real-world uses? I don’t know.)