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Bitcoin Firm Bitwage Partners New Bank, Improves Services to EU Customers

Last Updated March 4, 2021 4:56 PM
Rebecca Campbell
Last Updated March 4, 2021 4:56 PM

Bitwage has announced that it has launched unique IBAN numbers for all of its users who receive their wages in the European Union.

On its blog  page, San Francisco-based bitcoin payments company Bitwage said that after receiving a grant from BPIFrance and moving half of its team to Paris as winners of the France Tech Ticket, it has been working at improving its European solutions as it expands across Europe.

The company is able to offer this solution through a new banking partnership.

It said:

Now EU users have the first real option for a direct deposit into any wallet of their choice.

As a result, Bitwage has enabled two upgrades to their services: real-time transaction viewing and no deposit claims are required.

Previously, users would have to wait until the exchange processed payrolls before they could see their funds. Not only that, but if there was any unclear information attached to the funds they would go through a claims process, which would mean a user would have to upload information to prove the funds belonged to them.

Now, though, these are no longer issues users will have to face.

Bitwage said:

With our new unique IBANs, users receiving wages for EU companies no longer need to create deposit claims, as payment descriptions are no longer required for these transactions.

The news of this launch follows two previous upgrades that Bitwage recently announced. These were its Bitwage Premium feature, allowing users to receive their wages the same day that the bitcoin exchange receives the funds, and its Bitwage Authenticator, which is the more secure TOTP functionality through its Bitwage iOS and Android apps.

Bitwage Expands its Services

Bitwage has been growing its company in a bid to provide a better service for people around the world.

At the end of last year, the bitcoin exchange partnered up with Indian bitcoin exchange Unocoin as it attempts to push bitcoin’s adoption in the country.

The U.S. bitcoin exchange company also opened up a payment services in Brazil last August after experiencing positive growth within the organization. Not only that, but it also opens up the digital currency space into a country that has been showing interest in bitcoin.

In a further improvement of its services, the company unveiled, last year, an employment verification platform, making it easier for individuals seeking work to provide verified references.

All of these steps are just a few of the ways in which the company appears to be continually working on its solutions for its users.

Featured image from Shutterstock.