Press Release: Bitvalex helps blockchain companies settle all their outstanding bills and payments in fiat
Tallinn, Estonia, June 10, 2019 - A new service has been launched by the cryptocurrency exchange platform Bitvalex that helps Blockchain companies settle all their outstanding bills and invoices in all major fiat currencies without the need of having a bank account.
Cryptocurrency projects that fund their operations with the so-called Initial Coin Offerings (ICOs) or Initial Exchange Offerings (IEOs) often struggle to pay their vendors, affiliates, consultants, and employees. During the funding stage of their development they accumulate a lot of crypto, however, the large portion of the bills and invoices still need to be processed in EUR, USD or another local currency. And as banks tend to run away simply on hearing the words "crypto", "Bitcoin" and "ICO", making fiat payments becomes close to impossible for them.
However, with the launch of the crypto payroll service by Bitvalex, crypto companies simply need to send the required amount in virtual currencies and the digital asset platform takes care of the rest.
"We process the exchange and payment parts, so our clients essentially do not need to have a bank account. And even if they have one, the fact that we teamed up with both traditional forex and crypto OTC providers has really helped us to provide a value-adding service. The crypto-to-fiat conversion rates that we can now offer are highly competitive even for large block payments," says company CEO Nikifor Iliev.
And he adds: "We believe that the blockchain companies are the fundamental driving force of the crypto ecosystem. Their projects show the true potential of the technology by developing real applications for the real world. But the truth is that the crypto industry has not yet matured to become fiat-free. That is why we are here to help them bring the technology behind Bitcoin one step closer to mass adoption."
Bitvalex has already added a few crypto projects from the top 100 list to their client list and in addition to the payroll, the company has been developing a few other services for the ICOs to further their access, reach, and adoption. For more information stay tuned on Bitvalex.com.
Global Xchange OÜ
Pärnu mnt 158/2-88,
Tallinn 11317, Estonia
Bitvalex is an innovative digital asset exchange platform with integrated fiat and crypto wallets designed to provide its users with a true banking alternative. The platform supports Bitcoin, Ethereum, Litecoin, and Bitcoin Cash as well as EUR and USD. It also features the most comprehensive list of services among its peers: an integrated fiat payment gateway, crypto payroll processing, pre-paid debit card, OTC trading desk, and merchant processing, bringing the blockchain technology one step closer to mainstream recognition.