Bitwage is partnering with a payroll company to give more firms the ability to pay their workers in cryptocurrency.
Revealed exclusively to CoinDesk, Bitwage CEO Jonathan Chester says the partnership will let more U.S. employers fund payroll, payroll taxes and benefits with bitcoin or ether.
“This is a lifeline for companies to pay their people compliantly,” Chester told CoinDesk.
Bitwage currently has 45 active company clients. The partnership with Simply Efficient HR, a professional employer organization (PEO) based in Texas, is meant to expand the service beyond Bitwage’s current user base of 20,000.
Importantly, the new service lets companies pay salaried employees in crypto, rather than just contractors. The tax portion is converted into dollars and paid out in accordance with current tax systems in the U.S. continue reading here...