The Future of Payroll in Web3

January 2, 2024

If you’ve ever worked in a web3 company, or formed one of your own - you know that there are a plethora of financial management issues that you have to face. Usually, there are various kinds of employees in a web3 company and these range from freelancers, to part-time employees, to full-time employees to gig workers, or more. A web3 company does not function like a corporate set up where most employees are from the same country, or even receive a similar salary at their respective levels. With transactions in both crypto and fiat, a largely remote work environment, employees from all over the world, and those with varying preferences - financial management issues are bound to arise. Let’s chalk them out. 

How much can geographical location affect your financial management?

Because of the remote nature of most web3 companies, employees are often from across the world. As a web3 company, you need to keep track of where your employee is from, whether this country allows for cryptocurrency as a legal tender, how easy is it to transfer money, fiat or crypto, to this country, time zones vis-a-vis functioning bank hours, etc. If, for instance, you have employees from 5 different countries (and we are keeping it to a minimum), imagine having to do this entire process every month, 5 different times, multiplied by the number of employees. Sounds cumbersome? 

Do your employees want to be able to choose their mode of salary disbursement? 

Often, when you join a web3 company, a qualifying criteria is if you are willing to accept an all fiat or an all crypto salary. This is because it is easier for web3 companies to set a standard mode of salary disbursement and give no choice to their employees but to accept the said mode. This creates obstacles for employees, especially freelancers, gig workers or part time employees that work with multiple web3 companies at once, to be able to manage their finances. If employees could choose whether they want to be paid in full fiat, full crypto or part fiat and part crypto in the proportion of their choice, this would be a GAME CHANGER! Tracking these changing preferences could definitely be the next obstacle, but don’t worry - we’re here to resolve everything for you. 

Withdrawal Flexibility - a Yes or No? 

This is not the era to be stuck with salary payments only at the end of the month! With automation taking over, and innovation changing the face of everything as we know it, it is time to evolve salary withdrawals as well. Most employees would prefer to be able to withdraw their salary whenever possible, and wherever possible. 

It is a whole different ballgame to receive your salary in crypto and have to convert it to physical cash, or even move it to your bank account because every country has different legal compliance requirements. Similarly, if you receive your salary in all fiat but want to convert it to crypto, there’s a whole process you’ve to go through as well. It would be SO much easier if you could simply withdraw your preferred salary into your crypto wallet or your compliant bank account, whenever you want!

How does Rover Finance propose to resolve these issues? 

In a nutshell - FREEDOM. 

Rover Finance allows you to choose whether you want to be paid in full crypto, in full fiat, in half crypto and half fiat, or a random mix of both. You can change your preferences monthly, as and when your financial requirements have evolved. You can withdraw your salary whenever you want (not just at the end of the month!) and withdraw it to your compliant bank account or crypto wallet. We want to give you as much control as we can over the process of receiving your hard earned money. If you like how this sounds - 

Head to our website and book a demo. If you’re convinced by our expert pitch, you can sign up for early access!

Follow us on all our socials, and stay tuned for the unique financial management solutions that Rover Finance has to offer. 

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