Since the start of the pandemic, teleworking has grown by nearly 600%, according to data from Argentina’s Ministry of Productive Development. And the talent that strives to be able to provide services to overseas companies continues to increase. This phenomenon and the constant growth of the crypto ecosystem combine to support freelancers who generate income in crypto dollars.

In this context, Bitwage, a platform that allows workers, freelancers or service exporters to receive income easily, transparently and securely, recorded growth in 2021 in Latam and particularly in Argentina, consolidating itself thanks to the fact that it simplifies billing to clients . without having to fret over payments received or perform complex bank transactions.

Argentina thus became the country where California-based startups grew the most at the Latam level.

Domestic growth figures for 2021:

• 400% increase in billed payroll volume

• 250% increase in new users.

• 350% growth in the number of paid orders processed.

• Argentina is one of the top 3 countries in processed volume.

• The average turnover of an Argentine freelancer is USD 2,500.

• 95% of Argentinean users choose to receive their payments in cryptocurrencies, with the majority choosing stablecoins like USDC and DAI followed by Bitcoin and Ethereum.

To meet these user demands, Bitwage is adapting new mechanisms to be able to scale faster and improve support and communication teams to provide better customer service. In addition, it relaunched its platform with user experience (UX) and interface (UI) updates that are friendlier, faster and more intuitive, so that more workers and companies can use the service easily and safely. Likewise, new alliances with banks will facilitate collections during the year.

The company founded in 2014 by Jonathan Chester and John Lindsay when they detected an opportunity to combine payroll settlement services with Bitcoin and other cryptocurrencies, currently has more than 50,000 users and 2,000 companies registered in more than 100 countries and has processed more than 125 million dollar.

But the goal is much higher. “Our goal is to help people get the payments they need. Whether that means faster and cheaper direct deposits globally or in a currency that helps guard against volatility locally. The launch of our new system is part of a 2 year effort to create yet a seamless experience to please both businesses and workers.In addition to being beautiful, we’ve created new features that international freelancers need, such as the ability to create invoices and send email emails directly to clients.Freelancers can now create business accounts and businesses can now with easy to manage invoices, add multiple payments in one transaction. Since early 2020, we have grown in Latam billing by more than 100%, so we have decided to expand our team in Argentina and Brazil”, explains Jonathan Chester, CEO of Bitwage.

The continuous growth and evolution of the crypto ecosystem combined with the agility and security of blockchain technology allows us to project unimaginable improvements in payroll services through crypto assets.

HOW DOES BITWAGE WORK?

Using disruptive technology, Bitwage’s operations simplify and speed up payments, allowing users to receive their earnings in cryptocurrency or fiat money (depending on country).

By logging in, users will be able to upload invoices to the platform to send to employers or clients who can then transfer funds to the specified bank account. Then, in a flexible non-custodial way, Bitwage will “route” those payments directly to where the user wants to receive them, either a percentage to the wallet (in BTC, ETH, USDC, DAI or cUSD) and the rest to the wallet. desired local account, or all in cryptocurrency.

About Bitwage

Bitwage is a global payroll payment service. Headquartered in San Francisco, it operates in the US, Europe, Latin America and Asia markets. Bitwage offers services to employers, employees, exporters and freelancers, who can receive any percentage of their salary in Bitcoin, other cryptocurrencies or stablecoins, with unique accounts offered in the US, Europe, and the UK. Bitwage has received over $1MM from the Draper Association Team, Candela Reach Capital, Plug & Play, BPI France, and raised USD1.5MM in a record time of 55 hours on the virtual platform BnkToTheFuture.

*Analysis of Arigato Consulting