Bitwage Launches ICO Advisory Firm
Crypto payroll service Bitwage has launched an ICO advisory firm, with the first client fetching $50 million. Launched in 2011, Bitwage is a bitcoin payroll and international wage payment service. After knowing the benefits of initial coin offerings in the cryptocurrency-ecosystem, the firm has introduced an ICO advisory firm known as Inwage.
In a blog post, Bitwage published details about their new venture:
“While ICOs provide a unique opportunity for companies to raise money from a wide range of individuals and entities around the globe, it is often seen as a complex, expensive and risky process. Having launched Bitwage back in 2014, Inwage leverages our experience in Blockchain to build a highly secure turnkey solution for companies of all sizes to launch ICOs.”
The firm’s goal is to provide both technical services and marketing services including smart contract development and auditing and website creation as well as PR and event marketing.
The firm exceeded the initial fundraising target of the first client, Moria Token by 40 percent, fetching about $500 million in the ICO for the project, targeting to offer an investment platform for the mining of precious metals including assistance with IT and security compliance.
Along with the Inwage firm called Ether Inputs, Bitwage launched the second service, mentioning the inefficiency of certain firms operating ICOs to acquire bank accounts to pay workers. The company provides bitcoin and now ethereum as payroll funding alternatives, with workers have the chance to choose to receive a part of the wage in local currency as well through Bitwage and Ether Inputs.
Aragon and Status are two projects that have been making use of the service since the start of 2018 after the soft launch in January.