Bitwage Rolls Out Digital Dollars on Stellar for Remote Workers and Freelancers Globally
Bitwage, a leading cryptocurrency fee payment platform that gives workers, freelancers and service exporters the freedom to choose the best option when collecting their income from abroad, is proud today to announce the implementation of USD Coin (USDC ) on the Stellar blockchain on its platform.
Together with Stellar in this alliance, Bitwage optimizes its payment services in digital dollars in USD Coin ( USDC ), since in addition to facilitating the reception and sending of stablecoins in addresses compatible with the Ethereum network (ERC-20), today the Users anywhere in the world can also receive a part of their income in USD Coin (USDC) through Stellar, a reliable network that guarantees even lower transfer rates than Ethereum.
“The Stellar network has a great history of being a blockchain of a thousand battles well known for several years by our users. Since they have already been asking us to implement new alternatives to operate with better shipping rates, today we are extremely excited to be meeting this demand, which in itself was more than anything designed for and by our users,” added Jonathan Chester, CEO of Bitwage.
Bitwage contributes to the growth of the Stellar ecosystem by exposing real use cases within its platform. Through Bitwage, companies and clients around the world pay their collaborators by simplifying the individual and mass fee financing processes, minimizing transaction costs and giving users new options when receiving their payments. without your customers even needing to register.
In Asia and Latin America, for example, workers and employees were previously paid through the traditional banking system, which translated into low speed and effectiveness in the process. In the absence of real utility options that could give them real benefits, they ended up receiving their income in their respective local currency, leaving themselves exposed to other financial problems such as volatility and inflation.
“We want both companies and customers to pay their workers in digital dollars and for them, in turn, to be able to obtain local currency at the best possible exchange rate in the market. Whether it’s via USD, Bitcoin or local currency, Bitwage makes it easy to get almost instant access to the best price for your accounts,” said Chester.
In important Latin American markets such as Argentina, Brazil and Mexico, stablecoins i. e USD Coin (USDC), represent a significant majority in adoption. For those who work with several clients or companies abroad and receive their salary through Bitwage, USD Coin (USDC) is among the 3 most popular currencies on the platform, not only for its efficiency when operating but also for the fact that its The price is similar to that of the US dollar, a detail that is no less important for those who want to protect themselves from the volatility present in other assets such as Bitcoin, for example.
Another factor that prompted its rapid adoption in Argentina is due to the different existing denominations for the various dollar exchange rates when it comes to exporting services, where stable currencies such as USD Coin ( USDC ) have aroused growing interest among users especially in the last two years after the pandemic.
Configuring Vibrant and Bitwage for payments in Argentine Pesos.
Thanks to this implementation, Argentine Bitwage companies and users who are approved and hold a valid CBU can choose to receive a portion of their payments in local currency (ARS), using Stellar’s non-custodial wallet, Vibrant.
How does it work?
- Download the Vibrant app for android or iOS at https://vibrantapp.com/
- Copy your USD Coin ( USDC ) Stellar address into Vibrant.
- Register the USD Coin ( USDC ) Stellar address on Bitwage in “Bank Accounts & Wallets”
- Having received the funds in Vibrant, choose where you want to withdraw the funds and that’s it.
Although there are several ways to receive payments in foreign currency from abroad, Bitwage continues to be at the forefront in innovating the export sector of remote work, IT and Software Development. This trend clearly highlights the importance of the use of technology through stable cryptocurrencies for those who work online, which is why the implementation of USD Coin (USDC) on Stellar is now a reality.
With more than 50,000 users and 2,000 registered companies since 2014, an annual volume of 80 million dollars in payroll, Bitwage has served companies and individuals in more than 125 countries around the world, becoming the pioneer platform in payment of fees in cryptocurrencies that gives workers, freelancers or service exporters the freedom to choose the best option to collect their income from abroad, offering the most complete, fastest and cheapest service on the market.
Launched in 2014, Stellar is an open-source system whose software runs on a decentralized blockchain where millions of transactions occur daily. With more than 2 billion transactions processed, Stellar has created more than 6.5 million individual accounts and is positioned today as one of the fastest and most efficient low-cost networks in the market.