Bitwage
“Can stablecoin-funded payroll become the default rail for paying a global remote workforce?”
Founded2014
HQSan Francisco, CA, USA
FoundersJonathan Chester, John Lindsay
Total raised$760k+ (seed disclosed)
Latest roundAcquired by Paystand (2025)
IndustryInfrastructure / Payroll
The story
Founded in 2014 as one of the earliest Bitcoin payroll services, Bitwage evolved from a niche crypto salary tool into a stablecoin-funded global payroll and payouts platform serving 90,000+ workers across nearly 200 countries. Over ten years it added W2 crypto benefits, virtual USD/EUR/GBP receiving accounts, and API-based payouts for HRIS/EOR partners. In November 2025 it was acquired by Paystand Group, positioning it as the cross-border payroll arm of a broader B2B payments infrastructure company.
Product timeline
2014
Bitwage founded by Jonathan Chester and John Lindsay to enable Bitcoin-based payroll.· founding
2015
Raised $760k seed round led by Orange Silicon Valley.· funding
2023
Launched crypto payroll integrations with 23 US payroll providers including ADP, Paychex, Paycom, Gusto.· integration
2024
Expanded into stablecoin-funded payrolls and global payouts across ~200 countries.· product
2025
Acquired by Paystand Group to combine cross-border payroll with B2B payments infrastructure.· acquisition
The stack
5 layers disclosed in Bitwage’s embedded-finance stack
Payments / PSP
Bitwage merchant checkout (self-operated)
Payroll
in the full report
FX & payouts
in the full report
Crypto
in the full report
Accounting
in the full report
Accounting gap: minor
12 more providers across 4 layers, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.