Stablecoin payroll firm Toku taps Paxos Labs’ Amplify to offer yield on paychecks
Toku integrates Paxos Labs' Amplify to let employees earn yield on their stablecoin paychecks.Summary
Stablecoin payments solution Toku has integrated Paxos Labs' Amplify DeFi platform, allowing employees to earn yield on their paychecks as soon as they are received. This integration aims to increase stablecoin adoption and use cases in payroll. Toku's API enables payroll companies to offer stablecoin options, processing over $1 billion annually in token payroll volume globally. Unlike some competitors, Toku's solution offers built-in, self-custodial yield. Employees paid in USDC, USDT, and USDG can opt into earning yield on their paychecks without moving funds to a third party, retaining control of their assets via Privy-powered wallets. Paxos Labs, a new onchain development studio, launched Amplify with modules for yield generation, crypto-backed lending, and stablecoin issuance. Paxos Labs operates on a revenue-sharing model and recently raised $12 million.
(Source：The Block)