EU Workers Get Faster Bitcoin Payments

FinTech, Investing, News, Regulation | April 18, 2017 By:

EU workers who are paid in bitcoin will now receive their wages faster, thanks to a new tweak to the Bitwage platform.

Bitwage provides a means for employers to pay their workers in bitcoin or fiat currencies. The company has now added an important tweak: a 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 assigned to a specific bank account. Previously, EU-based customers would have to wait for several days claims to process. Now, that time will be reduced substantially because which bank and which country the account belongs to will be instantly recognized.

 

 

“We are able to offer this through a new banking partnership we’ve made over the past few months,” said Bitwage founder and president Jonathan Chester. “Now EU users have the first real option for a direct deposit into any wallet of their choice.”