Share this article
Bitwage Upgrades Bitcoin Payroll Service for EU Customers
Bitcoin startup Bitwage is improving its payroll services for premium customers based in the European Union.
By Stan Higgins
Updated Sep 11, 2021, 1:14 p.m. Published Apr 17, 2017, 11:59 a.m.
Make us preferred on Google
Bitcoin startup Bitwage has moved to improve its payroll service for customers based in the EU, launching a new upgrade aimed at speeding up the process for users in the region.
Founded in 2013, the startup provides a means for employers to pay their workers in bitcoin or fiat currencies, using bitcoin as a way to quickly move money worldwide.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Bitwage said today it is now offering unique International Bank Account Number (IBAN) to EU customers who subscribe to its premium service, as well as those who see monthly transaction volumes in excess of €1,999.
An IBAN is a unique string of numbers signifying a specific bank account, and should see customers able to access wages more quickly. Previously, an EU-based customer might have found themselves waiting for a claim to go through.
"With our new unique IBANs, users receiving wages for EU companies no longer need to create deposit claims, as payment descriptions are no longer required for these transactions," the startup said in a statement.
San Francisco-based Bitwage further positioned the upgrade as part of a broader push into the European market, saying:
"We hope to bring our innovative solution from the US into the European markets so that people can begin receiving their wages in digital assets and leverage the solution for faster, cheaper payments across borders."
The firm raised $760,000 at the end of 2015 in a seed funding round, and just over a year ago moved to add support for credit card payments.
Europe image via Shutterstock
More For You
Pudgy Penguins is building a multi-vertical consumer IP platform — combining phygital products, games, NFTs and PENGU to monetize culture at scale.
What to know:
Pudgy Penguins is emerging as one of the strongest NFT-native brands of this cycle, shifting from speculative “digital luxury goods” into a multi-vertical consumer IP platform. Its strategy is to acquire users through mainstream channels first; toys, retail partnerships and viral media, then onboard them into Web3 through games, NFTs and the PENGU token.
The ecosystem now spans phygital products (> $13M retail sales and >1M units sold), games and experiences (Pudgy Party surpassed 500k downloads in two weeks), and a widely distributed token (airdropped to 6M+ wallets). While the market is currently pricing Pudgy at a premium relative to traditional IP peers, sustained success depends on execution across retail expansion, gaming adoption and deeper token utility.
More For You
Strive clears Semler debt off books, buys more bitcoin after $225 million preferred stock sale
The offering of SATA shares was oversubscribed and upsized from the initial $150 million target.
What to know:
- Strive (ASST) raised $225 million through an upsized and oversubscribed SATA preferred offering.
- The company retired $110 million of the $120 million of legacy debt from recently acquired Semler Scientific (SMLR)
- Strive also increased its bitcoin treasury by 333.89 coins, bringing the total to roughly 13,132 BTC worth more than $1.1 billion.
Top Stories
