Bitwage collects $ 1.5 million in the last round of financing-
Bitwage collects $ 1.5 million in the last round of financing-
Bitwage, the pioneering company for salary statements and billing on cryptocurrency base, has spent $ 1.5 million in its latest round of financing. Draper Associates and Heisenberg Capital from Max Keiser, the BnktotheFuture, a platform for online investments, took part in the financing round. Bitwage will use these funds to expand its functionalities now that it is exposed to the competition of Coinbase that has introduced a similar service for US citizens.
Bitwage collects $ 1.5 million
in 55 hoursBitwage, one of the pioneering companies for salary bills and billing services in cryptocurrency, has completed a financing round educate. The round was carried out via BnktotheFuture, an online platform that enables registered investors to support projects directly. The company reached its goal in 55 hours and had the participation of Draper Associates and Max Keisers Heisenberg Capital.
The funds are used to further consolidate the company's status in the crypto payment service. The CEO of Bitwage, Jonathan Chester, said:
When we started in 2014, Bitcoin's salary statement was only a niche for Cypherpunks and crypto anarchists. The tailwind increases so that the list of salaries from Bitcoin and cryptocurrencies becomes a massive multi-billion dollar industry.
Covid-19 supports Bitwage
The Covid 19 pandemic is said to have played a major role in expansion and growth, the Bitwage is now experiencing. The conditions were favorable to increase the business in the most important markets of Latam to increase twenty times. This is because people were forced to do remote jobs that were outside of their areas, and cryptocurrency has now become an important part of the life of these workers.
Bitwage assumes that these changes in the market processing trends will continue to grow the business at short notice. Chester explained that Covid-19 had worked as a "catalyst" for long-distance working sectors and cryptocurrencies.
But it could be ahead of Bitwage, now that Coinbase has Offer services for employees who can now receive part of their salaries (or all) in crypto. Coinbase will support payments in more than 100 currencies offered by the stock exchange.
Coinbase claims to work with a number of companies, including Fortress Investment Group, M31 Capital, Nansen and Superrare Labs to enable his employees to collect their payments in cryptocurrency. This means that the cryptocurrency -based salary billing scene will be an interesting market in the near future.
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