Bitwage announced the addition of stablecoin USDC. This means that employees and freelancers around the world will now be able to receive their salaries with this stable currency. This was reported by Bitwage to Cointelegraph en Español, through a press release.
Taking into account the global and regional economic situation, they indicated: „The global recession that the Coronavirus pandemic is surrounding has led many people to seek refuge for their goods. While we have seen a growing interest in Bitcoin, it is clear that the US dollar is still the safest port. Since February, many currencies have weakened against the dollar and naturally as a result, we notice that many workers and freelancers around the world are asking to be paid in dollar-backed stablecoins.
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On this topic, they then added more details about this new option: „Our goal at Bitwage is to continue to improve the lives of remote workers worldwide through financial connectivity. Today, we are happy to announce the launch of USDC as a payment option. This means that employees and freelancers around the world can now receive their salaries with the ease of crypto currencies, but also with the stability of the US dollar. Companies can register to easily pay their workers anywhere in the world. Employees and freelancers can register, receive deposit accounts in the US, Europe or the UK and collect from any employer or client to receive their wages in stablecoins, cryptomonies or fiat currency.
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Payments, remote working and stablecoins
When asked what this means for the global remote workforce, Bitwage responded, „Our users have always had the option of having secure and private Bitcoin payments around the globe. However, for many who don’t understand the crypto world, the volatility is a lot to digest. Dollar-backed stablecoins allow us to pay employees and freelancers anywhere on the planet. It gives workers a stable form of currency to hold their money and, in turn, provides access to cheaper financial services compared to traditional banking systems.
Jonathan Chester, CEO of Bitwage, said:
„During our trials, we’ve seen a lot of interest in the Latino communities around stablecoins wages. We are excited to see how this will improve the lives of communities with struggling financial systems.
COVID-19: How can crypto currencies contribute to remote work?
Bitwage is the global service that works with payroll in crypto. It is based in San Francisco and has payroll service operations in the United States, Europe, Latin America and Asia.
Bitwage offers employer, employee and freelancer services. In addition, it recently launched a pension plan (401K) at Bitcoin with Leading Retirement Solutions, Gemini and Kingdom Trust.
Employees and freelancers can receive any percentage of their salary at Bitcoin Circuit with unique accounts offered in the US, Europe and the UK. International users can also receive their salaries through blockchain technology distributing in crypto or fiat as they prefer.