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.

By Stan Higgins

Jul 3, 2017 at 12:54 p.m. UTC

Updated Dec 12, 2022 at 12:43 p.m. UTC

Join the most important conversation in crypto and Web3 taking place in Austin, Texas, April 26-28.

Secure Your Seat

Stan Higgins

Join the most important conversation in crypto and Web3 taking place in Austin, Texas, April 26-28.

Secure Your Seat

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

The company . 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

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.

Stan Higgins

Learn more about Consensus 2023, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.

Stan Higgins