Compliant payments#

We're building a feature in Teams that lets you issue 1099s to your payees. This makes it easy to collect and verify W-9/W-8 info, and then compliantly pay contractors, grantees, and other extended team members.

As the economy moves onchain, US companies must still comply with government regulations. Our first step in addressing this need is helping teams report payments to their payees. Streamline contractor onboarding with automated W-9/W-8 form collection, TIN verification, and seamless payments. All relevant parties will receive 1099s automatically by email before tax season.

Teams updates#

For those earning yield on their assets in Teams, we now offer the ability to use your yield position while sending funds. Just select your position as the asset to sell during the send flow, and funds will be withdrawn and swapped on the way to the recipient. Note this is currently behind a feature flag while we work out any issues, so please reach out if you'd like to test this.

You can also now use Teams on Arbitrum. To enable Arbitrum (or change any networks on which your accounts are synced), go to your team's account settings page and toggle on/off specific networks.

We added a breakdown of each team's assets on the dashboard, similar to the one in the account page. This will be in production in the next day or two.

We also invested into our token pricing system. We made it more resilient and enhanced our error reporting systems with additional context. And we improved the performance of loading token data.

For our engineering team, we improved local logging and expanded documentation on internal tools.