Bitwage has announced the launch of its third product, “International Payroll for the Individual”, allowing employees to receive wages internationally in local currency, from any US employer. The service is initially launched for the Philippines, but should be extended to other countries later this year.
The launch is based on a partnership with Coins.ph, one of the Philippines’ leading Bitcoin wallet and exchange. “Coins.ph enables anyone to easily send money to the Philippines, top up their phone, and shop at 63,000+ global merchants using digital currency.”, explained Bitwage, noting that “an estimated one million filipino professionals are working for overseas companies”.
“By using the Bitcoin protocol, we are able to provide a faster, lower cost, and more efficient means for companies to send payments and employees to obtain payments, without the need for the recipient to have a bank account.”, stated the company.