Bitcoin startup Bitwage recently accepted to Orange Silicon Valley’s 12-week accelerator programme has raised $760,000 in seed funding round. The company plans to use the money to expand its European presence whlie proceeding with their broader international development

The company lets employees from different countries get their salaries in bitcoin digital currency without changing payment process for those who pay (employers or payroll providers). It also claims to make cross-border transactions which include converting the US dollars into local currencies almost 16% cheaper and significantly faster (1-2 days instead of the average 4-13 days).

“Our mission is to bring the value of real-time digital wage payments global. We started this by allowing anyone to receive their wages in Bitcoin without their employer or clients needing to sign up with us. Over time, we have managed to create an international payroll system that is faster and cheaper than the banks, paying employees in Europe, Philippines, Mexico, Brazil, Argentina and more,” says the company’s blog.

In March 2015, Bitwage partnered with Xapo to launch their payroll cards which would allow people to receive their salaries in bitcoin digital currency and spend them in fiat, namely dollars, pounds sterling and euro.

Maria Rudina