Bitwage Launches UK Services
Bitcoin payroll firm Bitwage has expanded its services in the UK. The company is now able to offer workers anywhere in the world the ability to receive wages from companies in the UK through local banking partners.
Bitwage provides a means for employers to pay their workers in bitcoin or fiat currencies. Bitwage claims to have over 13,000 registered workers and have processed over $21.6 million in international wages. Users can invoice employers or clients in the United States (US), United Kingdom (UK), and the European Union (EU). Wages received can be split into any ratio between different bank accounts and bitcoin wallets.
“For workers in the UK, this now means you are able to have more diversity in how you would like to receive your wages,” said Bitwage founder Jonathan Chester. “You can split your wages at any percentage between many different bank accounts and digital wallets. For international workers with UK clients, you can receive your wages faster and cheaper with the same ease of collecting funds into a local bank account.”
Chester said that the company has been beta testing this service. He explained that although the ability to receive wages in British pounds (GBP) existed previously, it was not done locally and was never publicly launched. Without local UK partners, the service was not cost-effective.
“Before this, we had a banking partner with GBP correspondent accounts in Ireland that could receive Chaps, UK’s same-day high-value payment system, but not Faster Payments or Bacs,” said Chester. “This was a costly solution for potential clients in the UK, so there was very little usage. We have now been working with these same customers during the beta testing of our new local UK services.”
