• Wed, 20 Nov 2019, 03:23 PM
  • All times are UTC
  • Edition:
    International
Copy link
Increase text size
Decrease text size
Link copied

Crypto payroll startup Bitwage adds support for Ether

Wed, 12 Jun 2019, 04:33 am UTC

Cryptocurrency payroll startup Bitwage has officially announced support for the second largest cryptocurrency by market cap, Ether (ETH).

In a blog post, the company announced Ether payroll, meaning that workers anywhere in the world would now be able to receive any percentage of their wages in Ether.

Bitwage, which was founded in 2014, said that it has been experimenting within the Ethereum ecosystem since 2017. Jonathan Chester, CEO of Bitwage, said that they have created a system that enables companies to fund payrolls and other fiat obligations in Ether.

“Employees, freelancers and independent contractors can receive from any clients within the US, EU or UK. Also, companies that want to offer tax and HR-compliant Ether benefits can sign up to offer it as a benefit to employees,” Chester said.

A company representative told CoinDesk that adding support for ether “took a lot of behind the scenes work… because the whole system was optimized for BTC. It’s just a matter of now having gotten the infrastructure to add it.”

Bitwage has also launched a blockchain technology and consulting services firm, Inwage, which built several projects on the Ethereum blockchain. This includes the Moria initial coin offering (ICO), which raised $50 million, and a pilot project for a major insurance company that leverages Ethereum for audit trail capabilities.

Earlier this year, Bitwage announced its partnership with Simply Efficient HR, a Texas-based Payroll & HR company, which will enable companies to pay W2 Employees and Payroll taxes in all 50 U.S. states plus Puerto Rico funded in Bitcoin (BTC) and Ether (ETH).

According to the details on Crunchbase, the San Francisco-based company has raised over $800,000 to date and is backed by Draper Associates, Cloud Money Ventures, Bitcoin Capital and others.

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
More
  • Bitcoin (BTC) $8,156.11 (-0.22%)
  • Ethereum (ETH) $177.10 (+0.29%)
  • XRP (XRP) $0.253100 (+0.84%)
  • Bitcoin Cash (BCH) $244.40 (+1.29%)
  • Litecoin (LTC) $55.42 (-0.41%)
  • Bitcoin (BTC) $8,156.11 (-0.22%)
Nov 20, 2019 (Wednesday)
12:47
MAS launches consultation on allowing crypto derivatives trading on approved exchanges
11:49
Crypto Technicals: Major Cryptocurrency Support Resistance Levels
11:49
Crypto Technicals: Major Cryptocurrency Daily Technical Outlook
11:22
Chinese firms HDFH, ZVCA and Yillion Bank launch $1B blockchain investment fund
11:20
Crypto Technicals: IOT/USD breaks trendline support, little support till 0.2200
10:38
Crypto Technicals: XRP/USD fails to hold break above 5-DMA, momentum strongly bearish
10:22
Grayscale Bitcoin Trust aims to become first reporting company under the SEC
10:04
Lamborghini taps Salesforce Blockchain for authenticating heritage cars
09:11
Tokenized security startup acquires $5M funding from Tokai Tokyo; To launch its services in early 2020
08:55
Anti-money laundering law will be applied on stablecoins regardless of what’s backing it, says FinCEN
08:47
Crypto Technicals: LTC/USD pauses downside, recovery lacks traction, more weakness on charts
07:22
Libra member Bison Trails secures $25M in Series A funding; More product announcements slated for 2020
07:18
SABB, HSBC execute blockchain-based trade transaction between Saudi Arabia and Bahrain
06:43
Deutsche Börse, Swisscom settle securities transactions using tokenized assets and different DLT protocols
06:17
Crypto Technicals: ETH/USD holds cloud support, break below will see further downside
05:39
CA$16M client funds of Einstein Exchange reduced to CA$45,000 in ‘hard assets,’ interim receiver reported
05:26
Galaxy Digital launches two bitcoin funds with Bakkt and Fidelity Digital Assets as custodians
04:37
Crypto Technicals: BTC/USD holds above 55W EMA (7952), 'Hammer' formation raises scope for minor recovery
04:21
Fidelity Digital Assets gets approval to offer crypto custodial services in Empire state
03:57
Crypto risk assessment platform secures $4.9M funding with PayPal leading the charge
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.
PUBLISHsoft