Papaya Global and Fireblocks Launch Stablecoin-Powered Banco Wallet for Instant Global Payouts
Dubai, UAE – February 6, 2026 – Papaya Global announced a partnership with Fireblocks to launch Banco Wallet, a stablecoin-powered global workforce wallet enabling instant cross-border payroll payouts. The solution supports payments in fiat and stablecoins across 180+ countries, eliminating slow bank transfers and targeting distributed workforces amid rising global employment complexity.
Overview
Papaya Global’s Banco Wallet, powered by Fireblocks’ digital asset infrastructure, facilitates real-time payouts to employees, contractors, and vendors across more than 180 countries. The platform serves both banked and unbanked workers with features including multi-currency holding, credit card connectivity, and fiat-to-stablecoin conversions. Fireblocks secures over $10 trillion in transactions across 150+ blockchains annually and handles 15% of global institutional stablecoin volume, approximately $40 billion quarterly. Specific transaction volumes and rollout timelines remain undisclosed.
Announcement Specifics
Papaya Global’s Banco Wallet, powered by Fireblocks’ digital asset infrastructure, facilitates real-time payouts to employees, contractors, and vendors across more than 180 countries. The platform serves both banked and unbanked workers with features including multi-currency holding, credit card connectivity, and fiat-to-stablecoin conversions. Fireblocks secures over $10 trillion in transactions across 150+ blockchains annually and handles 15% of global institutional stablecoin volume, approximately $40 billion quarterly. Specific transaction volumes and rollout timelines remain undisclosed.
Stakeholder Perspectives
“Global payments should move at the pace of global work. With Banco Wallet, we’re setting a new standard for global workforce payments – helping businesses pay employees and contractors across borders with greater speed, flexibility, and access to earnings.”
— Eynat Guez, CEO at Papaya Global
Why it matters: This positions Banco Wallet as a direct solution to reduce costs and settlement times versus traditional banking infrastructure.
“This partnership brings long-awaited innovation to one of the most complex and high-volume payment categories: global payroll. Banco Wallet demonstrates what’s possible when modern payment applications are built on purpose-built digital asset infrastructure – delivering the governance and reliability enterprises expect.”
— Michael Shaulov, CEO at Fireblocks
Why it matters: This underscores stablecoins’ advancement into enterprise-grade security and governance standards.
Industry Context
Stablecoins address legacy finance inefficiencies by enabling seconds-long settlements instead of multi-day processes. Fintechs like Papaya Global are leveraging this technology for high-volume payroll operations in sectors including oil and gas and gaming. While no specific MENA hubs were identified in the announcement, Papaya Global supports local-currency payouts in the UAE and 160+ countries, positioning the solution to serve distributed workforces in growing financial centers like Dubai and Riyadh as these markets advance crypto-friendly regulatory frameworks.
Conclusion
Banco Wallet is expected to streamline global payroll operations with enhanced efficiency and expanded worker access to earnings. The immediate next steps include broader enterprise adoption and potential additional stablecoin integrations as the platform scales.
Sources: The Fintech Times, PR Newswire, Papaya Global, Papaya Global Blog
