Bitwage now available for largest payroll providers to pay employees in Bitcoin
Bitwage, a leading Bitcoin payroll and invoicing provider, has launched a new feature that allows employers to easily connect their payroll providers to Bitwage’s service. This simplifies the process for employees who want to receive a portion of their paycheck in Bitcoin, stablecoins, or USD, ensuring compliance. This feature is compatible with various payroll providers, including ADP, Paychex, Paycom, Gusto, Trinet, and others.
Bitwage offers a non-custodial experience, ensuring that employees receive their payments directly into the wallet of their choice, maximizing security and minimizing risk. This sets Bitwage apart from other payroll providers. According to a press release sent to Bitcoin Magazine, companies need to sign up on the Bitwage platform and connect their payroll provider through the Bitwage Automated Connection in order to implement this feature. From there, Bitwage creates a custom, post-tax benefit on the payroll provider’s portal, allowing employees to opt-in and choose the amount they wish to be deducted from their paycheck and distributed through Bitwage.
Bitwage automatically generates a payroll for each employee based on their payroll preferences and extracts 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 with each pay cycle.
The CEO of Bitwage, Jonathan Chester, emphasized the company’s 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.