Unocoin partners with Bitwage to improve global wage distribution

FinTech | December 26, 2016 By:

Indian bitcoin exchange Unocoin has launched a new partnership with Bitwage, a blockchain-powered international payroll platform.

The partnership will help Bitwage further expand in India. With the service, Indian employees will be able to receive their wages in rupee terms from companies based in the United States, Europe, and United Kingdom, at typically far better rates than competitive services.

“Our partnership with Bitwage could not have come at a better time for the people of India. The demand for Bitcoin in India is tremendous. Together with Unocoin, Bitwage is giving foreign employees in India an unprecedented arbitrage opportunity, so they can take home far more money from the same paycheck than ever before,” said Unocoin co-founder and president Sunny Ray.

“The partnership with Unocoin was an undeniable opportunity because of the profound impact it will have on the Indian community. The value of the Unocoin and Bitwage partnership goes beyond providing a faster, cheaper, and more reliable solution for international wage processing needs – It is helping revive the Indian economy,” said Bitwage co-founder and president Jonathan Chester.

Unocoin’s integration with Bitwage will be powered by the Indian exchange’s recently released API, which has opened the door for companies outside the country to gain entry into the Indian market.

Among the leading exchanges in India, Unocoin’s new partnership with Bitwage joins the likes of its existing tie-up with bitcoin blockchain-based Blockstream, the latter which aims to enable low-cost cross-border remittance between Canada and India.