The company’s first partnership as part of its international push is with Bitcoin exchange Coins.ph, and allows companies to pay workers in the Philippines, even if they do not have a bank account.
Bitwage’s international payroll solution accepts and pays out in fiat currency, but uses Bitcoin in the middle to transfer the value from one place to another. Coins.ph customers can choose to collect Philippine pesos or preloaded cash cards, or receive their payments via bank transfers. Even door-to-door delivery of cash is possible.
However, when sending money to the Philippines funds can take many days to arrive. An additional hurdle is the high number of unbanked in the country. Bitwage is hoping to change that scenario by using Bitcoin’s transaction speed in combination with Coins.ph’s exchange service at the Asian end.
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