Bitwage provides a payroll platform that allows employers and freelancers to receive wages in a customizable mix of Bitcoin, stablecoins, and local currencies, facilitating direct deposits to multiple wallets and bank accounts. This service addresses the challenges of slow and costly international payments, enabling faster transactions and improved currency conversion rates for global workers.
Funding
$1.5M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Traditional payroll systems often involve high fees and slow transaction times, especially for international workers and freelancers. Converting currencies and managing multiple bank accounts can be complex and costly, reducing the overall earnings for both employers and employees.
Solution
Bitwage offers a payroll platform that enables employers and freelancers to manage wages in a mix of Bitcoin, stablecoins, and local currencies. The platform facilitates direct deposits to multiple wallets and bank accounts, streamlining the payment process. By allowing users to customize their preferred currency mix, Bitwage aims to provide faster transactions and improved currency conversion rates, reducing the financial friction associated with traditional payroll systems. The service supports both domestic and international payroll, offering a flexible solution for managing payments across different regions.
Target Audience
The primary target audience includes employers with international workforces, freelancers seeking flexible payment options, and employees interested in receiving wages in cryptocurrency or stablecoins.
Features
- Customizable payroll options with a mix of Bitcoin, stablecoins, and local currencies.
- Direct deposit functionality to multiple wallets and bank accounts.
- Automated invoicing and expense tracking for freelancers.
- Integration with existing payroll systems and HRIS platforms.
- Compliant reporting to meet accounting, tax, and regulatory requirements.
- Support for international payroll across 150+ countries.
- Dashboard for tracking platform usage and managing worker profiles.
- Dollar Cost Averaging (DCA) option for cryptocurrency allocations.