Bitcoin (BTC) payroll and international wage payment service, Bitwage has launched its ICO advisory firm called Inwage. The cryptocurrency payroll service wants to tap the growing importance of initial coin offerings (ICO) in the crypto space.
According to the blog post published by Bitwage, the ICO’s provide remarkable opportunities to the companies in the crypto market for raising money from a wide range of resources including individuals and organizations across the globe. However, it is a complex, risky and costly affair. It is where Bitwage seems to have found a need for Inwage that will leverage the company’s experience in blockchain essential. Inwage will contribute by developing highly secure, turnkey solution for the companies planning to launch ICO’s irrespective of their size, big or small.
Inwage To Offer Technical And Marketing Services
The ICO advisory firm from Bitwage will be offering both, marketing as well as technical services including smart contract development, website creation, KYC compliance, a secure signup process, auditing and managing PR and event marketing. Bitwage intends to make it easier for the companies to launch their ICOs. The main features of the Inwage platform include payment processing and dividends, know-your-customer procedures, an administrative portal, and customizable front page.
The company is also planning to extend its services to support Ethereum (ETH) and has launched Ether Inputs. Bitwage stated that it has come across firms who in the past ran ICOs but struggled to pay their employees because of difficulties in setting up accounts with the banks. And that is the reason the company has decided to add ETH network to its platform. Bitwage also recently said that Aragon and Status are the two companies that have been using the service since the start of the year prior to the full-fledged launch of Inwage.
Inwage Creation Prompted By Demands From Companies
The president of Bitwage, Jonathan Chester said that the creation of Inwage was prompted by the companies and the individuals seeking advice for technical and marketing related aspects of ICOs. Chester said, “We started to build out an ICO technology that people can use without relying on a third party. People can license the InWage software and host it themselves. This is actually one of beautiful things about ICOs, the ability to sell a digital asset without the requirement of a third party.”
The company has already managed to surpass the fundraising target of $30 million for Moria Token, its first client by raising $50 million during its run.