Private Payrolls in the U.S. Went Up in October
Private payrolls in the U.S. rose sharply, which showed that the job market was getting better again, even though some big companies were still laying off workers.
Paystand buys Bitwage so that users can get paid in stablecoins more easily
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aystand has officially bought Bitwage, a top payroll company that lets workers get their pay in cryptocurrency. This move is a big step toward Paystand's goal of making stablecoin payments faster, easier, and more accessible for businesses and workers all over the world.The startup says that combining Paystand's blockchain-based B2B payment system with Bitwage's payroll features will make it much easier for businesses to handle big payments in stablecoin.
Why Paystand Bought Bitwage
The purchase was made because there is a growing need for crypto payroll solutions, especially now that businesses want to pay online faster and cheaper.Bitwage is well-known for being one of the first platforms to offer payroll in Bitcoin, USDC, and other stablecoins.This is a great match for Paystand's goal of a financial system based on blockchain.
Paystand wants to make payroll automation better, speed up cross-border payments, and get rid of the delays that come with traditional banks that slow down salary payments around the world by bringing Bitwage into its family. The goal of the partnership is to create a single place where businesses can send large amounts of stablecoin payments more quickly and clearly.
How the Acquisition Improves Payrolls for Stablecoins
The integration of Bitwage's tools into Paystand's network will allow businesses to make big stablecoin payments that settle almost instantly.This is a lot better than how payroll systems used to work.The unified platform's goal is to cut costs, make payments more accurate, and give workers around the world faster access to their money.
More and more people are using stablecoins like USDC and USDT to pay their employees because they keep prices stable and are fast and borderless like blockchain.Paystand thinks that this purchase will make it easier for more businesses to use these digital assets without having to learn a lot about cryptocurrency.
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What This Means for the Crypto and FinTech Markets
Experts say that the purchase makes Paystand a better leader in crypto-native financial services.Digital assets are becoming more common in business operations, payroll systems, and trade across borders. This makes this purchase happen at the right time.
The change will also likely make it easier for people in fields like technology, freelancing, and foreign contracting to use crypto for payroll.These fields currently rely on payment systems that are flexible and work around the world.As more businesses try out blockchain-based payroll, Paystand's new features could change the way modern payroll systems work.
What Paystand and Bitwage Will Do Next
Bitwage will keep using its own brand for now, but Paystand wants to slowly add the most important features of the platform to its larger blockchain network.The companies want to work together to make a crypto payroll system that is both safe and scalable, so that employers can pay workers all over the world more easily.
Paystand is leading the way in the stablecoin payments revolution with this purchase.It gives businesses a faster and better way to pay their employees than the old way.As the FinTech industry keeps changing, the Paystand–Bitwage deal could be a turning point for the future of digital payments.
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