Bitwage Implements Digital Dollars to Pay Remote Workers on Stellar Blockchain

San Francisco,United States - August 18, 2022 /PressCable/ —

Crypto payroll provider Bitwage continues to drive innovation in the crypto payroll space by offering the USD Coin (USDC), a fully-reserved dollar digital currency, on the Stellar blockchain on their platform.

Using Bitwage, companies across the world now have a fully compliant, easy-to-use, and frictionless solution when it comes to paying their employees and contractors globally. Hiring talent across different continents and countries can be a major pain point – even for companies that already have an established presence in the countries they want to hire from – and Bitwage is aiming to provide a new solution with this latest implementation.

With this announcement, workers are now able to receive any percentage of their salaries they want in digital dollars, via USDC. This means lower costs, same-day deposits of their funds, the ability to store their savings in USDC, and the ability to get local currency exactly when they need it. By leveraging USDC on the Stellar blockchain, workers are given access to USDC on a low-fee blockchain that has one of the longest histories in the industry.

Here’s how it works: Any company in the world can register with Bitwage today and use it to pay their workforce. After this, the company invites their workers to Bitwage’s platform. Workers then choose what percentage of their salary will go into USDC, local currencies, or Bitcoin. When it comes to salary itself, companies pay the wages just like they are used to paying, without reducing overhead on their accounting or salary department. Once paychecks are funded and paid, workers receive USDC and any other currencies to addresses or bank accounts they have provided.

Bitwage has made a name for themselves in the Bitcoin payroll space, but getting paid USDC is a great alternative. If an individual needs their money right away, and they can’t afford to hold it for long periods of time, USDC is a convenient option. Additionally, big companies looking for stability may not be ready to take on the occasional volatility of Bitcoin. Using Bitwage for USDC payroll with Stellar gives both individuals and companies a low-risk option to partake in the crypto payroll revolution.

“USDC on the Stellar network has lower fees, so you can receive your money faster, cheaper and keep it as digital dollars for saving,” said Bitwage CEO Jonathan Chester. “Our users have been asking for low-cost options for stablecoins and we are very excited to deliver. Now, companies can guarantee cheaper, faster and better payment options to all their workforce. This option is fully regulated and compliant so all companies have to worry about is how to keep their employees happy and not worry about payments issues. Thanks to USDC on Stellar, digital dollars will make a huge change to people’s lives.”

For more information visit:

https://www.bitwage.com

Contact:

Jonathan Chester, CEO

[email protected]

About Bitwage

Bitwage is headquartered in San Francisco, California with operations in the US, Europe, Latin America, and Asia. After a simple sign-up process, employees and freelancers are able to receive any percentage of their wage in Bitcoin with unique bank accounts offered in US, EU, and UK. International users can also receive their wages faster & cheaper than traditional banking channels through blockchain technology, receiving Bitcoin or fiat on the other end. Bitwage has processed $150MM in transactions with over 50,000 users and 2,000 companies. Since their inception in 2014, Bitwage has received $4MM in funding from Draper Associates, BnkToTheFuture, Overton VC, Candela Reach Capital, Plug and Play, BPI France and many others.

Contact Info:
Name: Matthew Gundrum
Email: Send Email
Organization: Bitwage
Address: 244 California St. Suite 607, San Francisco, California 94111, United States
Website: https://www.bitwage.com/

Source: PressCable

Release ID: 89079941

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