Arrive AI Wants to Pay Workers and Vendors in Bitcoin

Delivery company Arrive AI will begin paying vendors, clients and employees in cryptocurrency.

The firm’s new Bitcoin payment plan is designed for recipients who prefer crypto over traditional dollars, according to a Monday (Aug. 25) press release.

“We think cryptocurrency is a better way to pay, and as we continue to expand our footprint globally, we think our associates will be happy to have this option,” Arrive CEO Dan O’Toole, who will be the first person at the company taking part in the new practice, said in the release.

The company also sees an opportunity to create its own token that would be used to pay workers and contractors, settle vendor contracts and streamline transactions within its delivery network, O’Toole said in the release.

“Because our business sits at the intersection of logistics and AI, a proprietary digital currency could enhance transparency, speed and efficiency while giving investors and users a stake in the growth of our platform,” O’Toole said in the release.

Arrive AI is now working to triple its staff to add artificial intelligence scientists, as it focuses on being “AI first” in its operation and deliverables, according to the release. The company also plans to hire software and product engineering staff, as well as sales and marketing professionals, as the company prepares for widespread deployment.

Meanwhile, payments leaders are exploring innovations like stablecoin payments to meet consumers’ digital expectations.

“All of this comes down to what consumers and businesses want,” Raj Dhamodharan, executive vice president, blockchain and digital assets at Mastercard, told PYMNTS in May. “It’s not just about cost, but also trust, simplicity and convenience. Customers want an end-to-end experience.”

“For consumer adoption, most people won’t even know they’re using stablecoins,” he added. “In the U.S., there’s already a robust electronic infrastructure of wallets, bank accounts, etc. Crypto-native users may interact directly with the blockchain, but most won’t. The real utility for them comes through simple experiences, like using a card linked to a stablecoin account.”

Although traditional crypto assets like Bitcoin and Ethereum have dominated headlines, stablecoins are gaining traction in the payments world. Compared to more volatile cryptocurrencies, stablecoins provide price stability.

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