This new partnership gives UnitedMasters the opportunity to provide independent artists the ability to be paid in cryptocurrency through Coinbase’s new payroll product.
“Working with Coinbase to give independent artists the ability to be paid in crypto is a natural next step for us, using technology to ensure that the economics of the music business favor the creators behind it. As the financial sector continues to evolve and innovate, we’re committed to putting our artists in the best position to benefit from these changes,” Founder and CEO of UnitedMasters, Steve Stoute, said in a written statement.
Recording artists who utilize the UnitedMasters app can benefit from more financial opportunities, equity, and transparency while using the platform now. This allegiance levels the playing field so that they can stay independent and in control of their respective futures. The artists can now choose to receive payment for their services and craft with flexibility and freedom, in US dollars or a cryptocurrency of their choice.
“Coinbase’s mission is to increase economic freedom in the world, and we applaud UnitedMasters’ efforts to level the playing field for their community of musical artists. We want to make it easy for every company to pay employees in crypto. This is the future of payroll,” Surojit Chatterjee, chief product officer of Coinbase, stated.
The artists also have the option to take further advantage of Coinbase’s full set of product offerings—including spending, earning, trading, and borrowing if they choose to receive their transaction in the form of cryptocurrency.
Coinbase also wants to make it easy for every company to pay its employees in crypto. Stoute discussed the UnitedMasters and Coinbase partnership when he appeared on CNBC’s Squawk Box to talk about the news and how it benefits artists involved with his company.