Bitwage Launches Crypto Payroll Integrations With 23 US Payroll Providers
MIAMI, FL, UNITED STATES, June 6, 2023/EINPresswire.com/ — Our mission at Bitwage is to give workers the freedom to be paid how they want, making payroll simple and compliant for their employers. As the leading provider of Bitcoin, cryptocurrency & stablecoin payroll and invoicing, we are excited to announce a major step forward in cryptocurrency payroll.
For the first time ever, employers can easily connect their payroll provider to the Bitwage service, thereby creating a simple and compliant solution for workers to receive any percentage of their paycheck in Bitcoin, crypto, stablecoins or USD.
Almost any employer in the united states can offer this solution, because the integrations include, among others:
This new solution is notable because it creates no additional overhead for HR and is fully compliant with FLSA guidelines.
Additionally, Bitwage offers a non-custodial experience, meaning employees get paid into any wallet they want, which maximizes security and diminishes risk for all users.
How does it work?
First, a company signs up to the Bitwage platform. Next, the company searches for their payroll provider on Bitwage and logs in through the Bitwage Automated Connection.
At this point, Bitwage creates a custom, post-tax benefit on their payroll provider’s portal that employees can opt-in to. Think along the same lines of a post-tax roth 401k deduction already built into every payroll software today. The company will then onboard employees to the Bitwage platform. Employees can then set an amount they would like deducted from their paycheck and distributed through Bitwage.
Every paycheck, Bitwage will create a payroll for every employee’s crypto payroll preferences automatically by pulling the data directly from your payroll system. Employees then get paid directly to the bitcoin, crypto or stablecoin wallet of their choice, or even as their local currency, directly into their bank accounts.
With this new feature, Bitwage is offering the industry’s easiest way to offer fully compliant crypto benefits without having to migrate off of traditional HRIS systems.
“Our mission is to enable workforces the way they want to be paid, whether it be in bitcoin, crypto, stablecoins or local currencies,” said Bitwage CEO, Jonathan Chester. “We recognize that crypto can be scary for employers, so to enable this mission, we are building out fully compliant solutions and removing the complexities and custodial risk of crypto from the equation.”
This process, which is new to both the crypto and payroll spaces, comes from a long line of innovations that the company has unveiled in 2022: crypto 401(k), preferred wallet features, and lightning payroll.
For more information visit:
Jonathan Chester, CEO
Bitwage is the global leader in Bitcoin, cryptocurrency and stablecoin payroll with services across invoicing and benefits services. The company also offers resources to employers, employees, and freelancers with their robust, online platform. 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 $250MM in transactions with over 60,000 users and 3,000 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.