The Mexican Bitcoin exchange Bitso has announced a collaboration with Bitwage to help Mexican workers attain their wages in Bitcoin. Founded in 2014 Bitso is one of Mexico’s first Bitcoin exchanges within the region and offers service for those exchanging with the Mexican Peso. Adoption in Mexico has increased quite a bit over the past year and is showing signs of steady growth within the Mexican borders.
Now Mexican freelancers can receive their pay using Bitso tethered to the Bitwage platform. The Bitwage firm was co-founded by John Lindsay and Jonathan Chester and the company states it enables “workers receive their wages in flexible distributions including digital and local currencies.” Bitwage aims to reduce cost in regards to payroll , transfer speed and make the payroll process trackable and immutable. The company states that the partnership with Bitso allows payroll processing more efficient for businesses internationally. Bitso’s blog announcement explains the integration: “If you live in Mexico and receive your list of companies from the US and Europe, this service is for you. This integration allows your customer to make a payment for your services via bank transfer in your country while you receive payment in Mexican pesos to your account. The integration takes advantage of the efficiency and security offered by Bitcoins to transport your payroll around the world within minutes. Bitwage has tools to track your payment through its platform, making safe and transparent process.” Bitso has received $1.8 million in venture capital investment on May 16, 2016, from investors such as the Digital Currency Group , FundersClub, and Hard Yaka. With the new integration Bitso says the Bitwage tools will help users track payments through its platform allowing lower commission, and faster payment processing because of Bitcoin’s superior protocol. Mexican remittance is in the billions every […]
