Bitwage, a top Bitcoin payroll and invoicing provider, has launched an innovative solution that allows employers to easily connect their payroll providers to Bitwage’s service. This development streamlines and ensures compliance for workers who desire to receive a part of their salary in Bitcoin, stablecoins, or USD. Notably, this solution is compatible with various payroll providers, including ADP, Paychex, Paycom, Gusto, Trinet, and many others.
As per a press release shared with Bitcoin Magazine, Bitwage stands out for its non-custodial experience, ensuring that employees receive their payments directly into the wallet of their choice, maximizing security and minimizing risk.
To implement this solution, companies must register on the Bitwage platform and link their payroll provider through the Bitwage Automated Connection. Bitwage then creates a custom, post-tax benefit on the payroll provider’s portal, enabling employees to opt-in. Employees can then select the amount they want to be deducted from their paycheck and distributed through Bitwage.
With each pay cycle, Bitwage automatically generates a payroll for each employee based on their payroll preferences, extracting the necessary data directly from the payroll system. Employees can receive their payments directly into their preferred Bitcoin, crypto, or stablecoin wallet or even as their local currency into their bank accounts.
Bitwage’s CEO, Jonathan Chester, emphasized their mission to enable workforces to be paid in their preferred method, whether it’s bitcoin or fiat. “We recognize that crypto can be scary for employers, so to enable this mission, we are building out fully compliant solutions and removing the complexities and custodial risk of crypto from the equation,” Chester said.
This solution is a significant step towards making cryptocurrency payments more accessible and secure for workers and employers alike.