Bitcoin Payroll Startup Bitwage Launches UK Services

Bitcoin startup Bitwage, which focuses on the international payroll market, is expanding its European footprint with a launch in the UK.

Jul 3, 2017 at 12:54 p.m. UTC
Updated Sep 11, 2021 at 1:30 p.m. UTC

Bitcoin startup Bitwage, which focuses on the international payroll market, is expanding its European footprint with a launch in the UK.

The company announced its push into the UK market today. Through their platform, which launched in 2014, workers in the UK can accept their wages through settlement options like BACS, CHAPS, Faster Payments or SWIFT into their local British pound-denominated bank accounts.

Local users "now have the option for a direct deposit into any wallet of their choice", the startup added.

"For workers in the UK, this now means you are able to have more diversity in how you would like to receive your wages. You can split your wages at any percentage between many different bank accounts and digital wallets," Bitwage founder and president Jonathan Chester wrote on the startup's blog.

The launch comes months after Bitwage beefed up its European-focused services with the launch of unique International Bank Account Numbers (IBANs) for customers in the region. At the time, the startup framed that upgrade as part of its push into the European market.

Bitwage has raised $760,000 in funding to date, drawing support during a round in late 2015 from investors including Orange Telecom and Draper Associates

UK pound image via Shutterstock

The Festival for the Decentralized World
Thursday - Sunday, June 9-12, 2022
Austin, Texas
Save a Seat Now

DISCLOSURE

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

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

Trending

1
CoinDesk - Unknown
After the Terra Meltdown: What's Next for Stablecoins?

The largest token collapse in crypto history. So let Luna die.

The largest token collapse in crypto history. So let Luna die.

CoinDesk - Unknown
2
CoinDesk - Unknown
5 Key Takeaways From a16z's State of Crypto Report

The venture firm is extremely bullish on Web 3.

The venture firm is extremely bullish on Web 3.

CoinDesk - Unknown
3
CoinDesk - Unknown
Regulators Are Paying Attention to UST

The collapse of terraUSD (UST) is algorithmic stablecoins’ Libra moment.

The collapse of terraUSD (UST) is algorithmic stablecoins’ Libra moment.

CoinDesk - Unknown
4
CoinDesk - Unknown
San Francisco NFL Player Alex Barrett Taking His Salary in Bitcoin

The most valuable crypto stories for Thursday, May 20, 2022.

The most valuable crypto stories for Thursday, May 20, 2022.

CoinDesk - Unknown