Bitwage, the bitcoin payroll company has extended its services to Mexico. The company, which has been offering its services in Europe and the United States has entered into a partnership with the Mexican Bitcoin Exchange Bitso to enter the Latin American market.
According to reports, Bitwage’s partnership with Bitso will boost the existing Bitcoin payroll solution currently being offered by Bitso in its individual capacity. Bitwage has more experience than Bitso when it comes to invoicing and bitcoin based payroll processing as it has been working with some of the leading companies and organizations across the world as its customers. Some of the notable customers of Bitwage include Google, Facebook, Airbnb, Uber, US Navy, World Health Organization and FAO.
While talking about the collaboration between the two companies, the CEO of Bitso, Pablo Gonzalez was quoted saying
“It (the collaboration) opens up the doors for freelancers in Mexico to seek international opportunities using the most efficient payment rail with the lowest transfer fees,”
The Bitcoin payroll service was recently announced by Bitso on its official blog. The Bitcoin exchange mentions that people who receive their salary from abroad faster and at lower commissions. The blog post also mention’s the integration with Bitwage which will allow the employer to deposit the payment for services through bank transfer directly to the employee’s account. Bitwage’s integration will leverage upon bitcoin’s faster transaction capabilities to ensure the money is deposited in the respective accounts in Mexican pesos within minutes.
In addition to faster transfers, Bitwage also offers tools for tracking the transactions, just like a package sent through FedEx.
Bitcoin and blockchain technology has made the world a much smaller place when it comes to financial services. International wire transfers, which used to take anywhere between days to weeks can now happen in a matter of minutes.