Bitwage added USDC stablecoin to the service for remuneration of remote employees

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Cryptocurrency payroll solutions provider Bitwage has expanded its payment service capabilities by adding the stablecoin USDC to the list of cryptocurrency assets.

Bitwage CEO Jonathan Chester spoke about the company's desire to simplify the processes of paying remote employees from foreign countries.

In his opinion, this process is associated withmany technical problems, and first of all, it is too expensive and time-consuming. To make matters worse, many remote workers are paid in local currency. With inflation rates much higher than in the United States, this leads to losses of 5% to 20% of funds.

“Wages in USDC are subject to lowertransaction fees, so you can get money faster and cheaper, and store it as digital dollars for savings. Our users have been asking for low-cost stablecoin options and we are very pleased to provide them,” said Chester.

After integrating USDC into the payment serviceBitwage, remote workers will be able to receive any percentage of their salary using a digital currency pegged to the US dollar. This will not only lead to lower costs, but will also provide the opportunity to store funds in the digital equivalent of US dollars.

Bitwage provides two payment services:direct deposit, where a portion of employees' paychecks are automatically exchanged for cryptocurrency, and a team pay option where the company provides corporate benefits services.