The United States may pay salaries in cryptocurrencies

The companies of the country will be able to cancel the salary to their workers thanks to a strategic alliance with the cryptocurrency payroll service of Bitwage

Bitcoin could become the payroll currency for many companies in the United States thanks to the association between the Bitwage cryptocurrency payroll service and the Simply Efficient HR payroll and human relations firm.

Jonathan Chester, CEO of Bitwage, said: “This is a lifeline for companies to pay their employees accordingly.” His company, based in Texas, currently has 45 clients and wants to expand its portfolio to 20,000.

Bitwage allows customers to make payroll payments to their workers in cryptography and not just to contractors, without neglecting the aspect of paying taxes. For this, the corresponding portion converted into dollars is canceled according to the current tax systems in the United States.

Chester explains that companies that use cryptocurrencies could only attract employees as contractors, since the tax systems are designed for fiat money. But thanks to Bitwage it is now possible to pay employees in bitcoins.

The tests that the company has carried out since November in a beta version of this service for the crypto ecosystem of Paxful were satisfactory. Hayel Abbassi, controller of Paxful, said: “Bitwage closes the gap between bitcoin and the traditional financial system.”

When using the Bitwage system, the amount corresponding to the worker’s payment is sent to an address directly with the mandatory deductions for federal and state taxes.



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