After expanding services in Europe earlier this year, bitcoin payroll and wage payment service provider Bitwage announced its official launch in the UK on Monday.
California bitcoin startup, Bitwage, which provides employers with the opportunity to pay their employees in cryptocurrency, has officially entered the UK market today, according to Bitcoin.com.
With the help of Bitwage, employers can pay salaries to employees in Bitcoins or Ether without binding a bank account. This model is especially convenient for those who regularly interact with freelancers in other countries, since executors can receive money in their national currency.
Despite the fact that technically the possibility to receive salaries with the help of Bitwage in British pounds has existed before, officially the company entered the market of this country only now.
"Now we can offer employees around the world the opportunity to receive salaries from British companies through local banking partners,"
said Bitwage in his announcement.
The company noted that from now on the platform supports such payment systems as Faster Payments, Bacs, Chaps and Swift, with the help of which funds can also be credited to a bank account.
"Before that, we had an Irish banking partner with correspondent accounts in pounds that could receive money via Chaps, but not via Faster Payments or Bacs. This was an expensive solution for potential customers in the UK, so it was in low demand,"
added the President of Bitwage, Jonathan Chester.
We’d like to remind, that in March 2016, Bitwage announced the release of an API to integrate the proposed salaries to employees’ credit cards.
In June, the same year, thanks to a partnership with the financial platform of Uphold, employers were able to pay their employees in the Ethereum crypto currency.
Related Link: https://news.bitcoin.com/bitwage-launches-uk-bitcoin-payroll-services/
