Both companies have decided to form an alliance to allow businesses to pay their workers in ether, the new popular Cryptocurrency.
Bitwage announced the new feature on their corporate blog, the company states the importance of Ethereum’s platform, as it is ‘The new , hot Cryptocurrency that has taken the spotlight for enterprises, entrepreneurs, and speculators all over the world’. Ethereum’s market cap is currently sitting at more than $1 billion, and its first decentralized autonomous organization has raised over $150 million in funding.
Currently, there’s no way to get directly paid in ether if you work for a traditional company, with Bitwage, you will be able to invoice your employer which will pay you using a regular bank transfer, this time thought, the money will be sent to your account in Bitwage, where it will be automatically converted into ether or bitcoin.
Bitwage wants to avoid the hassle of going through a digital currency exchange to convert fiat into crypto, which can take more business days to complete.
That is why we are excited to announce that Bitwage, a leader in digital currency payroll, and Uphold, a leader in digital currency storage, are coming together to offer the unique experience of allowing workers to enter into the world of decentralized autonomous organizations through their paycheck.
The company has users in over 90 countries, and according to its website, it helps employees, freelancers, and contractors to receive their wages from organizations such as Google, Facebook, and even the US Navy.
Uphold is a platform that allows users to convert Bitcoins into more than 25 different currencies and 4 precious metals. Starting from now, you will be able to convert the money received in your Bitwage’s account to ether. Uphold offers real-time proof of reserve, along with many nifty features, and an app center.
This partnership represents a step forward in Ethereum’s adoption, as more users will be able to easily convert FIAT into Ether.
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