Bitwage Upgrades Bitcoin Payroll Service for EU Customers

Bitcoin startup Bitwage is improving its payroll services for premium customers based in the European Union.

AccessTimeIconApr 17, 2017 at 11:59 a.m. UTC
Updated Sep 11, 2021 at 1:14 p.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

Bitcoin startup Bitwage has moved to improve its payroll service for customers based in the EU, launching a new upgrade aimed at speeding up the process for users in the region.

Founded in 2013, the startup provides a means for employers to pay their workers in bitcoin or fiat currencies, using bitcoin as a way to quickly move money worldwide.

Bitwage said today it is now offering 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 signifying a specific bank account, and should see customers able to access wages more quickly. Previously, an EU-based customer might have found themselves waiting for a claim to go through.

"With our new unique IBANs, users receiving wages for EU companies no longer need to create deposit claims, as payment descriptions are no longer required for these transactions," the startup said in a statement.

San Francisco-based Bitwage further positioned the upgrade as part of a broader push into the European market, saying:

"We hope to bring our innovative solution from the US into the European markets so that people can begin receiving their wages in digital assets and leverage the solution for faster, cheaper payments across borders."

The firm raised $760,000 at the end of 2015 in a seed funding round, and just over a year ago moved to add support for credit card payments.

Europe image via Shutterstock


Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to to register and buy your pass now.