Bitwage, a cryptocurrency wage services company, has partnered with the Philippines-based Bitcoin exchange Coins.ph to launch a new bitcoin-based payroll product for US employers.
The firm will integrate Coins.ph to its existing bitcoin payroll system in the US to facilitate American companies to pay employees in the Philippines leveraging the bitcoin protocol.
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The partnership will offer customers with payout options that encompass bank transfers, cash cards, cash pickup, mobile money, door-to-door delivery besides Bitcoin.
The international payroll solution will accept and pay out in fiat currency while using bitcoin in the middle to transfer the value from one place to another.
Bitwage founder and chief strategy officer Jonathan Chester said: "The core of our products is basically trying to figure out how to bring modern financial tools around the world. We see bitcoin as a way to facilitate that.
"Bitcoin is the best way to get cross-border payments into the hands of both banked and underbanked people."
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By GlobalData
