Bitwage partners with ForUsAll to offer a one stop shop for Crypto 401(k) and Crypto Payroll

Bitwage, the world’s leading provider of Bitcoin and cryptocurrency payroll, billing and benefits solutions, today announced its partnership with ForUsAll to offer the first one-stop shop for cryptocurrency 401(k) combined with cryptocurrency payroll.

Bitwage CEO

jonathan chester

Bitage

Bitage

Bitage

San Francisco, CA, October 13, 2022 (GLOBE NEWSWIRE) — Bitwage, the world’s leading provider of Bitcoin and cryptocurrency payroll, billing and benefits solutions, today announced its partnership with ForUsAll to offer the first one-stop service buy crypto 401 (k) combined with cryptocurrency payroll.

The decision to introduce these products was based on overwhelming customer demand, as measured by a waiting list published by Bitwage. It was clear that companies and employees wanted direct access to Bitcoin and other cryptocurrencies as part of their company-sponsored retirement plans.

Through Bitwage’s integration with ForUsAll, a modern 401(k) provider that provides access to cryptocurrency, financial wellness, low fees and more, US businesses now have access to a 401(k) retirement plan. ) easy to use and fully compatible. which allows employees to automatically contribute a portion of their paycheck to crypto through ForUsAll’s self-directed crypto window.

“Our goal is to provide a full suite of crypto payroll and benefits for employers and their workforce,” said Bitwage CEO Jonathan Chester. “ForUsAll is one of the most seamless and compatible services on the market. Together, we create a one-stop-shop for crypto benefits and services that can scale to thousands of employees.”

Crypto contributions in the 401(k) can be made before or after taxes (Roth). This results in greater tax savings for users, because crypto held or traded in a Roth 401(k) would accrue zero capital gains taxes, no matter how much the balance grows when the investor retires.

ForUsAll’s 401(k) platform, called Alt401(k), was especially attractive to Bitwage due to its robustness. Through Alt401(k), employers have the option to include cryptocurrency through a self-directed alternative window within the 401(k) along with their investment line. From there, participants can transfer up to 5% of their portfolio to a crypto window where they can invest in a variety of vetted institutional-grade cryptocurrencies. ForUsAll closely monitors allocations, alerting employees when their total crypto allocation exceeds 5% of their portfolio, making rebalancing easy.

Other key features of ForUsAll Alt401(k) include:

  • A fully automated, turnkey 401(k) for employers, with both traditional and alternative investment options

  • Employees can transfer up to 5% of their balances to a secure account that is exposed to certain cryptocurrencies

  • Employees will be able to buy, hold, and sell a curated list of highly vetted, institutional-grade cryptocurrencies.

  • Employees will receive education and ongoing supervision of the portfolio

“This exciting partnership represents a natural progression in our mission to bring our clients the best benefits of cutting-edge digital assets,” concluded Chester.

For more information visit:

https://www.bitwage.com

Contact:

Jonathan Chester, CEO

[email protected]

About Bitwage

Bitwage is the world leader in Bitcoin, cryptocurrency and stablecoin payroll with billing services and benefits services. The company also offers resources to employers, employees and freelancers with its robust online platform. Bitwage is headquartered in San Francisco, California with operations in the US, Europe, Latin America, and Asia. After a simple registration process, employees and freelancers can receive any percentage of their salary in Bitcoin with unique bank accounts offered in the US, EU and UK. International users can also receive their salaries faster and cheaper than traditional banking channels through blockchain technology, receiving Bitcoin or fiat money at the other end. Bitwage has processed $150MM in transactions with more than 50,000 users and 2,000 companies. Since its inception in 2014, Bitwage has received $4 million in funding from Draper Associates, BnkToTheFuture, Overton VC, Candela Reach Capital, Plug and Play, BPI France, and many others.

about for all of us

ForUsAll is a technology-enabled 401(k) provider that is a pioneer in including cryptocurrency in retirement plans. Founded in 2012 by the same team that helped build Financial Engines, the nation’s largest registered investment adviser, ForUsAll’s mission is to give ordinary Americans the tools they need to build a brighter financial future. With $1.7 billion in assets under management, ForUsAll serves more than 80,000 retirement savers in more than 500 plans and is trusted by companies that insist on a 401(k) experience their employees will love.

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CONTACT: Jonathan Chester Bitwage [email protected]

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