Global Workforces need a truly Global Currency

May 4, 2023
Paying with Virtual Assets is faster, cheaper and safer than traditional fiat payment methods. So isn’t it time to pay your staff the same way?

If you’ve got an expatriate workforce, you can help them to reduce the cost of international remittances using Virtual Assets, such as Bitcoin. In these testing times, providing your staff a soft incentive and improving retention; and as a business, encouraging staff to use Virtual Assets whilst holding some in your own treasury is a mutual benefit.

Individual attitudes towards Virtual Assets are changing rapidly; maturing regulations and price stability, as well as greater institutional investments are speeding adoption.

The technology to allow an employer to pay partially, or fully in Virtual Assets is very accessible and easy to use, with greater choice in the market.

Although a little dated, a survey conducted by ChronoBank back in 2018 found that 66% of respondents said they would be willing to receive their wages in cryptocurrencies, with 83% saying they would accept their bonus payments the same way.

As virtual assets and digital currencies have increasingly established themselves as legitimate settlement methods, so too has the openness for people to accept settlement payment for the work they do. With inflation increasingly affecting national fiat currencies, and traditional stores of value like Gold being hard to exchange, the use case is obvious for any forward thinking employer or supplier seeking stability in these unprecedented and uncertain times.

What is a Virtual Asset billing service?

A Virtual Asset billing service provides access to an all-in-one platform for both individuals and businesses to send and receive payments in Virtual Assets; think Paypal, but with Bitcoin. For employers paying their employees in Virtual Assets, it’s as easy as replying to an email. All an employee needs to do is open and verify an account, go through the necessary verification steps, and set up a recurring invoice which is then automatically sent to their employer via email.

Using a payment platform removes all possible pain points, making the process surprisingly straight forward for both employee and employer. No conversion rates or fees to worry about, as the platform handles it. You put the currency in, the employee gets the currency out. No fees for the individual or business to take in exchange rate losses, and very low transaction fees. Saving costs, time and hassle.

Find a provider that suits your needs; consider which currency they support, the fees and security of the platform. You’ll probably need to have some documentation to hand to get set up; a reputable platform will ask for some form of ID document, proof of address and for information about the business. Check that they are licensed in the area you’re located in, and have strong relationships with the local authorities. As much as Virtual Assets are decentralised, being licensed protects your business from fines or service interruption.

Once you have registered, setting up and configuring the automated billing function can be done in a couple of clicks. The account approval process can take several business days and most platforms have a tiered volume system that requires further verification documentation with each increase in volume tier request; plan ahead.

For employers, the platform will take care of all conversion and exchange rates, fees and invoicing, with payments can be made directly to the employee. To make a payment it is simply a case of opening an email, clicking the link and following the on-screen prompts.

For employees, the automated email invoicing service only needs to be configured once, and can be set as recurring monthly, weekly or daily. Employees also the possibility of receiving their payments in either Fiat, Virtual Asset, or a split.

Why Pay Employees in Virtual Assets?

A blockchain based billing service is not tethered to a debit card, credit card or bank account, or any third-party party payment services, any payments effectively bypass and cut out all ‘middlemen’. This allows companies the flexibility to pay their employees’ wages, regardless of geographic location or jurisdiction, in a much faster, simpler, and not to mention cheaper way.

The funds are sent directly to the recipient, eliminating all unnecessary and expensive fees, delays, the need for trust, potential for fraud and lays the foundation for a much more efficient employee-employer relationship.

Final Thoughts

Paying employees or receiving payment in virtual assets is no longer a complicated hardship for the tech savvy only. Using a service is a simple, effective way to pay employees that requires little technical knowledge or expertise. An account is straight forward to set up and can be done in a matter of minutes, with the platform taking all the hassle and complication out of the billing and payment process.

Digital asset News, education and analysis

News Roundup — MakerDAO Founder Unveils Two New Stablecoins: NewStable and PureDAI
Each week we bring you a round-up of the most important Bitcoin and virtual asset-related stories making waves in the cryptosphere.­­­­
May 20, 2024
News Roundup — Tether Slams Deutsche Bank over Suggestion its Stablecoin Could Fail
Each week we bring you a round-up of the most important Bitcoin and virtual asset-related stories making waves in the cryptosphere.­­­­
May 14, 2024
News Roundup — Orange: A Bitcoin-Based Decentralized Identity Platform
Each week we bring you a round-up of the most important Bitcoin and virtual asset-related stories making waves in the cryptosphere.­­­­
May 6, 2024
News Roundup — After 6-year hiatus, Stripe to start taking crypto payments, starting with USDC stablecoin
Each week we bring you a round-up of the most important Bitcoin and virtual asset-related stories making waves in the cryptosphere.­­­­
April 29, 2024
News Roundup — Bitcoin Halving Officially Complete
Each week we bring you a round-up of the most important Bitcoin and virtual asset-related stories making waves in the cryptosphere.­­­­
April 22, 2024
News Roundup — Hong Kong approves spot Bitcoin ETFs
Each week we bring you a round-up of the most important Bitcoin and virtual asset-related stories making waves in the cryptosphere.­­­­
April 15, 2024
News Roundup — Ripple to launch US dollar stablecoin, aims to compete with USDT and USDC
Each week we bring you a round-up of the most important Bitcoin and virtual asset-related stories making waves in the cryptosphere.­­­­
April 8, 2024
News Roundup — SBF Is Going to Prison for 25 Years
Each week we bring you a round-up of the most important Bitcoin and virtual asset-related stories making waves in the cryptosphere.­­­­
April 1, 2024
News Roundup — SEC investigates Ethereum Foundation - Is ETH a Security?
Each week we bring you a round-up of the most important Bitcoin and virtual asset-related stories making waves in the cryptosphere.­­­­
March 25, 2024
News Roundup — Craig Wright Is Not Satoshi!
Each week we bring you a round-up of the most important Bitcoin and virtual asset-related stories making waves in the cryptosphere.­­­­
March 18, 2024
News Roundup — Nexo puts recent woes behind it with Middle East license approval
Each week we bring you a round-up of the most important Bitcoin and virtual asset-related stories making waves in the cryptosphere.­­­­
March 11, 2024
News Roundup — Bitcoin Tops $65K, Inches Closer to Lifetime Peak
Each week we bring you a round-up of the most important Bitcoin and virtual asset-related stories making waves in the cryptosphere.­­­­
March 4, 2024
News Roundup — Bitcoin ETFs Notch Best-Ever Week with $2.5bn Haul
Each week we bring you a round-up of the most important Bitcoin and virtual asset-related stories making waves in the cryptosphere.­­­­
February 26, 2024
News Roundup — MicroStrategy listing in the S&P 500 index could expose millions to Bitcoin
Each week we bring you a round-up of the most important Bitcoin and virtual asset-related stories making waves in the cryptosphere.­­­­
February 19, 2024
News Roundup - Ethereum Set for Boost as Dencun Upgrade Gets a Date
Each week we bring you a round-up of the most important Bitcoin and virtual asset-related stories making waves in the cryptosphere.
February 12, 2024
News Roundup — UAE makes first cross-border payment using digital currency
Each week we bring you a round-up of the most important Bitcoin and virtual asset-related stories making waves in the cryptosphere.­­­­
February 5, 2024
News Roundup—FTX sold nearly $1 billion of Grayscale spot bitcoin ETF shares
Each week we bring you a round-up of the most important Bitcoin and virtual asset-related stories making waves in the cryptosphere.­­­­
January 29, 2024
News Roundup — Timeline set for Craig Wright trial on Satoshi Nakamoto identity claim
Each week we bring you a round-up of the most important Bitcoin and virtual asset-related stories making waves in the cryptosphere.­­­­
January 22, 2024
News Roundup — US SEC Approves Bitcoin ETFs in Watershed Moment for Industry
Each week we bring you a round-up of the most important Bitcoin and virtual asset-related stories making waves in the cryptosphere.­­­­
January 15, 2024
News Roundup — BlackRock names JPMorgan as authorized participants for its proposed bitcoin ETF
Each week we bring you a round-up of the most important Bitcoin and virtual asset-related stories making waves in the cryptosphere.­­­­
January 8, 2024
News Roundup — MicroStrategy bags 14,620 Bitcoin ahead of Potential ETF Approval
Each week we bring you a round-up of the most important Bitcoin and virtual asset-related stories making waves in the cryptosphere.­­­­
January 2, 2024
News Roundup — ‘In Argentina, contracts can be settled in Bitcoin’ — foreign minister
Each week we bring you a round-up of the most important Bitcoin and virtual asset-related stories making waves in the cryptosphere.­­­­
December 26, 2023
News Roundup — Gensler says SEC is taking ‘new look’ at spot bitcoin ETF proposals
Each week we bring you a round-up of the most important Bitcoin and virtual asset-related stories making waves in the cryptosphere.­­­­
December 18, 2023
News Roundup — Talks between SEC and Bitcoin ETF issuers in 'Advanced' Stages
Each week we bring you a round-up of the most important Bitcoin and virtual asset-related stories making waves in the cryptosphere.­­­­
December 11, 2023
News Roundup — MicroStrategy Piles on Bitcoin, Acquiring 0.90% of Circulating Supply
Each week we bring you a round-up of the most important Bitcoin and virtual asset-related stories making waves in the cryptosphere.­­­­
December 4, 2023
News Roundup — Javier Milei Is Now President In Argentina With A Pro-Bitcoin Agenda
Each week we bring you a round-up of the most important Bitcoin and virtual asset-related stories making waves in the cryptosphere.­­­­
November 27, 2023
News Roundup — Dubai’s chief crypto regulator exits as VARA prepares to fine major companies
Each week we bring you a round-up of the most important Bitcoin and virtual asset-related stories making waves in the cryptosphere.­­­­
November 20, 2023
News Roundup — UAE Cracks Down on Unlicensed Crypto Firms
Each week we bring you a round-up of the most important Bitcoin and virtual asset-related stories making waves in the cryptosphere.­­­­
November 13, 2023
News Roundup — 'Crypto King' Sam Bankman-Fried faces decades in jail after guilty verdict
Each week we bring you a round-up of the most important Bitcoin and virtual asset-related stories making waves in the cryptosphere.­­­­
November 6, 2023
News Roundup — BlackRock Preps for Bitcoin ETF Launch
Each week we bring you a round-up of the most important Bitcoin and virtual asset-related stories making waves in the cryptosphere.­­­­
October 30, 2023
News Roundup — Middle East Regulatory Clarity Drives Crypto Industry Growth
Each week we bring you a round-up of the most important Bitcoin and virtual asset-related stories making waves in the cryptosphere.­­­­
October 23, 2023
News Roundup — Bitcoin Lightning Network Growth Surges by 1,200% in 2 Years
Each week we bring you a round-up of the most important Bitcoin and virtual asset-related stories making waves in the cryptosphere.­­­­
October 16, 2023
News Roundup — Binance hit with class-action lawsuit over alleged market manipulation
Each week we bring you a round-up of the most important Bitcoin and virtual asset-related stories making waves in the cryptosphere.­­­­
October 9, 2023
News Roundup — UAE Sees Major Institutional Influx of Crypto Transactions
Each week we bring you a round-up of the most important Bitcoin and virtual asset-related stories making waves in the cryptosphere.­­­­
October 2, 2023
News Roundup — Binance.US Trading Volume Tumbles While SEC Dispute Heats Up
Each week we bring you a round-up of the most important Bitcoin and virtual asset-related stories making waves in the cryptosphere.­­­­
September 25, 2023
News Roundup — Bitcoin Miner Returns the $510,000 Overpaid Transaction Fee
Each week we bring you a round-up of the most important Bitcoin and virtual asset-related stories making waves in the cryptosphere.­­­­
September 18, 2023
News Roundup — ‘A Huge Deal’ - Visa Reveals Crypto Payments Bombshell That Could Cause Bitcoin, Ethereum, BNB, XRP, Cardano, Dogecoin, Solana, Tron And Toncoin Price Chaos
Each week we bring you a round-up of the most important Bitcoin and virtual asset-related stories making waves in the cryptosphere.­­­­
September 11, 2023
News Roundup — All cryptocurrency businesses in Dubai come 'VARA-certified'
Each week we bring you a round-up of the most important Bitcoin and virtual asset-related stories making waves in the cryptosphere.­­­­
September 4, 2023
News Roundup — Craig Wright May Be Admitting That He Stole 80,000 Bitcoin
Each week we bring you a round-up of the most important Bitcoin and virtual asset-related stories making waves in the cryptosphere.­­­­
August 28, 2023
News Roundup — Europe's First Spot Bitcoin ETF Lists in Amsterdam
Each week we bring you a round-up of the most important Bitcoin and virtual asset-related stories making waves in the cryptosphere.­­­­
August 21, 2023
News Roundup — Sam Bankman-Fried Is Going to Jail
Each week we bring you a round-up of the most important Bitcoin and virtual asset-related stories making waves in the cryptosphere.­­­­
August 14, 2023
News Roundup — Bitcoin Is Not Crypto, The SEC Confirms
Each week we bring you a round-up of the most important Bitcoin and virtual asset-related stories making waves in the cryptosphere.­­­­
August 7, 2023
News Roundup — Crypto bills pass congressional committee in ‘huge win’ for US crypto
Each week we bring you a round-up of the most important Bitcoin and virtual asset-related stories making waves in the cryptosphere.­­­­
July 31, 2023
News Roundup — RFK Jr. Announces Bold Plan to Back Dollar With Bitcoin, End Bitcoin Taxes
Each week we bring you a round-up of the most important Bitcoin and virtual asset-related stories making waves in the cryptosphere.­­­­
July 24, 2023
News Roundup — Judge rules XRP is not a security in SEC's case against Ripple
Each week we bring you a round-up of the most important Bitcoin and virtual asset-related stories making waves in the cryptosphere.­­­­
July 17, 2023
News Roundup — BlackRock Bitcoin ETF Application Refiled, Naming Coinbase as ‘Surveillance-Sharing’ Partner
Each week we bring you a round-up of the most important Bitcoin and virtual asset-related stories making waves in the cryptosphere.­­­­
July 10, 2023
News Roundup — SEC Inaction on Spot Bitcoin ETF a 'Complete and Utter Disaster'
Each week we bring you a round-up of the most important Bitcoin and virtual asset-related stories making waves in the cryptosphere.­­­­
July 3, 2023
News Roundup — Binance Officially Exits UK After The Netherlands And Cyprus
Each week we bring you a round-up of the most important Bitcoin and virtual asset-related stories making waves in the cryptosphere.­­­­
June 26, 2023
News Roundup — BlackRock files for spot bitcoin ETF, with Coinbase as a crypto custodian
Each week we bring you a round-up of the most important Bitcoin and virtual asset-related stories making waves in the cryptosphere.­­­­
June 19, 2023
News Roundup — SEC Sues Crypto Exchange Binance and CEO Changpeng Zhao
Each week we bring you a round-up of the most important Bitcoin and virtual asset-related stories making waves in the cryptosphere.­­­­
June 15, 2023
News Roundup — Tether’s Market Cap Reaches New High, Exceeding $83.2B
Each week we bring you a round-up of the most important Bitcoin and virtual asset-related stories making waves in the cryptosphere.­­­­
June 6, 2023
News Roundup — 700M Users Of Telegram Can Now Buy, Receive, Withdraw and Trade Bitcoin P2P
Each week we bring you a round-up of the most important Bitcoin and virtual asset-related stories making waves in the cryptosphere.­­­­
May 23, 2023
News Roundup — Smart Contracts Have Arrived on the Bitcoin Blockchain
Each week we bring you a round-up of the most important Bitcoin and virtual asset-related stories making waves in the cryptosphere.­­­­
May 15, 2023
Bitcoin on the Books
Why has Institutional Investment in Bitcoin Skyrocketed in 2020?
May 4, 2023
The Merge is (Almost) Here
The long awaited ETH merger is finally drawing closer, with only a few days left until the expected date of 15th September 2022.
May 4, 2023
El Salvador’s Bitcoin Moment
With history in the making as El Salvador makes Bitcoin legal tender on September 7th, 2021, we examine the implications for the country’s financial system, its people, and the global remittance industry.
May 4, 2023
Global Workforces need a truly Global Currency
Running a multinational business? It’s time to pay your employees in Virtual Assets!
May 4, 2023
The Fall of TerraUSD, The not so Stable Stablecoin
A retrospective look at the spectacular TerraUSD/LUNA collapse and the possible reasons behind their incredible fall from grace.
May 4, 2023
Bitcoin’s Latest Upgrade — Taproot
Everything about you wanted to know about the Taproot upgrade, but were too afraid to ask!
May 4, 2023
The Other Bitcoins — A Closer Look at Bitcoin’s Hardforks
For any newcomer to Digital Assets, discovering there are other ‘types’ of Bitcoin can be confusing.
May 4, 2023
The Island of Yap & Blockchain
A look at the fascinating Island of Yap and Rai stones in what is thought to be the worlds very first use of a distributed ledger.
May 4, 2023
The Short, but Explosive History of Bitcoin
The plot line reads like a prize winning novel — an anonymous creator, economic catastrophe, FBI investigations, and… pizza!?
May 4, 2023
Bitcoin and the Rules of Consensus
Is it really possible to reach an agreement between people we’ve never met before? Using the Nakamoto Consensus it is…
May 4, 2023
Grow your business.
Today is the day to build the business of your dreams. Share your mission with the world — and blow your customers away.
Start Now