STOCKHOLM, SWEDEN – 09/12/2024 – (SeaPRwire) – The way freelancers get paid is evolving at an unprecedented pace. In February 2024, Ruul, a global freelance management platform, introduced cryptocurrency payments as an option for independent contractors. Just nine months later, the initiative has proven transformative, offering a glimpse into the future of freelancing finance. Nearly one-third of Ruul’s payouts now occur through digital currencies, signaling not just growing acceptance but a fundamental shift in how freelancers and businesses interact financially.
Cryptocurrencies, once considered niche, are becoming a vital tool in a world where the gig economy is expected to grow to 1.2 billion workers by 2025. By providing a fast, secure, and borderless payment system, digital currencies empower freelancers to sidestep the traditional challenges of banking fees and slow international transfers. Ruul’s pioneering role in this change highlights the growing demand for innovative solutions in a highly competitive and globalized freelance market.
Digital Dollars Are Here to Stay
What started as an experimental offering is now reshaping the industry. Cryptocurrencies, often referred to as “digital dollars,” have gained widespread traction as a payment method. They are fast, accessible, and free from the geographic and bureaucratic constraints of traditional banking. This makes them particularly appealing for freelancers in countries with underdeveloped banking infrastructure or high transaction fees.
Ruul’s internal data underscores the success of this approach. Over the past nine months, freelancers from diverse regions have increasingly opted for cryptocurrency payouts, reflecting a broader trend of adaptability and trust in blockchain technology. For many, these digital dollars represent more than just a payment method—they are a gateway to financial independence.
Eran Karaso, COO of Ruul, expressed enthusiasm about this shift:
“Our freelance community has embraced digital dollars more rapidly than we imagined. This demonstrates not only their adaptability but also their trust in the efficiency and security of cryptocurrency. Crypto payments are no longer a futuristic idea—they’re becoming a cornerstone of modern freelancing.”
What Drives Freelancers to Choose Crypto?
Several key factors are fueling this growing preference for cryptocurrency payouts in the freelance sector:
- Speed and Convenience: Blockchain transactions are near-instant, cutting down the delays of traditional wire transfers that can take days.
- Borderless Accessibility: Freelancers working with global clients appreciate the ability to receive payments without dealing with complex currency exchanges or cross-border fees.
- Rising Confidence in Digital Assets: As blockchain platforms enhance security and user-friendliness, freelancers are increasingly viewing digital dollars as a viable, everyday option.
These benefits have positioned Ruul as a leader in adapting to the rapidly shifting preferences of freelance workers.
Implications for the Future of Freelancing
The implications of this shift extend far beyond payment methods. As freelancers and businesses alike recognize the efficiency of cryptocurrency transactions, a broader acceptance of blockchain technology within the gig economy seems inevitable. For freelancers, cryptocurrencies offer a way to get paid fairly and quickly without the traditional hurdles of delayed payments or hidden fees.
Ruul’s success demonstrates how platforms can leverage these innovations to create a more equitable and seamless freelancing experience. As crypto adoption rates climb and technologies continue to evolve, digital currencies could become a standard part of freelancing worldwide.
About Ruul
Ruul was founded in 2017 with the mission of enhancing the freelance experience. The platform connects over 100,000 freelancers with 25,000 businesses across 190 countries, offering tools for efficient payments, contractor management, and global compliance. By serving as a merchant of record, Ruul simplifies the complex logistics of freelancing, enabling partnerships with leading companies such as Toyota, Klarna, and KPMG.
As Ruul continues to innovate, it remains at the forefront of shaping the future of freelancing—one digital transaction at a time.
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