Papaya
“Can a global payroll SaaS platform own the full workforce payments stack — from payroll calculation to real-time cross-border payout, including stablecoin rails — and displace legacy banking intermediaries for enterprise workforce payments?”
Papaya Global started as a global workforce management SaaS platform handling payroll, EOR, and contractor management across borders. Over time it vertically integrated into payments infrastructure, becoming a licensed financial institution operating its own payment rails in partnership with J.P. Morgan and Citibank. The introduction of the Banco brand and, most recently, the Banco Wallet powered by Fireblocks marks a clear pivot toward becoming a fintech-grade global workforce payments platform, adding stablecoin settlement and digital wallet capabilities on top of the original HR-and-payroll SaaS core.