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Crypto Payroll Processor Bitwage Launches ICO Advisory Firm

Cryptocurrency payroll service Bitwage wants to make it easier for companies to launch initial coin offerings (ICOs).

The company announced on Tuesday that it has created a new advisory firm called InWage, which seeks to help traditional companies develop and hold token sales. The company’s platform includes modules for know-your-customer procedures, payment processing and dividends, as well as a customizable front page and an administrative portal, according to the startup.

In addition, InWage will provide assistance with creating and auditing smart contracts, as well as website security. Clients can also get assistance with marketing and public relations through the new service.

BitWage president Jonathan Chester said the creation of InWage was prompted by individuals and companies who began asking for advice around the technical and marketing aspects of ICOs.

He explained:

“We started to build out an ICO technology that people can use without relying on a third party. People can license the InWage software and host it themselves. This is actually one of beautiful things about ICOs, the ability to sell a digital asset without the requirement of a third party.”

The company has already helped the GS Mining Company and Ethmint launch the token for a platform called Moria, Chester told CoinDesk, calling it “the world’s first decentralized investment platform for precious metal extraction.” The Moria token sale aimed for $30 million, but ultimately raised $50 million during its run, he added.

Going forward, the firm hopes to work with other services that provide “regulatory compliance and investor channels to make ICOs accessible to companies of all shapes and sizes,” Chester said.

Gumball machine image via Shutterstock

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Bitcoin Payroll Startup Bitwage Adds 18 New Currencies

Bitcoin payroll startup Bitwage has today announced support for an additional 18 fiat currencies, including the Russian ruble.

Founded in 2014, the startup uses bitcoin to let employers route international payments to workers, allowing them to receive wages in either a local fiat currency or bitcoin, or a combination of the two. The new additions extend support for the existing seven currencies to a total of 25.

In a statement, Bitwage’s president, Jonathan Chester, explained the reason for adding the options, saying, “With the recent interest in digital currencies over the last year, there has been tremendous growth in users who want to receive their wages in or through digital currency.”

The new currencies added to the payroll service are: Mexican peso, Brazilian real, South African rand, Turkish lira, Saudi Arabian riyal, Israeli new sheqel, Swedish krona, Russian ruble, Romanian leu, Polish zloty, Norwegian krone, Danish krone, Czech koruna, Hungarian forint, New Zealand dollar, Singapore dollar, Hong Kong dollar and Philippine peso.

According to figures provided by Bitwage, the service has transacted over $30 million to date, and has over 18,000 users worldwide.

Russian rubles image via Shutterstock

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