Crypto payments company Bitwage has partnered with Simply Efficient HR, a professional employer organisation (PEO), to enable companies to pay employees in cryptocurrency.
Bitwage currently serves an estimated staff base of 20,000 through partnerships with 45 companies. The link-up with Simply Efficient HR will allow salaried workers to receive their monthly wage in Bitcoin, expanding the firm's offering beyond contractors.
Bitwage CEO Jonathan Chester said: “This is a lifeline for companies to pay their people compliantly."
Peer-to-peer exchange company Paxful has been using the product in beta since November.
Hayel Abbassi, Paxful controller, said: “Bitwage bridges the gap between bitcoin and the traditional finance system. Paxful simply sends bitcoin to an address, and our employees receive net checks with the proper federal and state taxes withheld.”
