Bitwage, a company specializing in bitcoin payroll and international wage payments services, has announced the launch of an advisory firm it calls Inwage. Inwage which will be tasked with helping companies successfully launch initial coin offerings (ICOs). Bitwage was launched in 2011
Offering Professional ICO Support
The new initiative will mainly target traditional companies that need technical assistance in order to develop and hold token sales. Some of the services that will be available on the platform include payment and dividend processing, know-your-customer procedures and a customizable administrative portal and front page. In addition, Inwage will also help companies in developing smart contracts.
The company will also offer security audits of smart contracts for existing digital currency companies as well as certifying safety of websites. Apart from technical support, the firm will also offer public relations and marketing services to clients.
According to Bitwage founder and President Jonathan Chester, the initiative was motivated by the many people and firms seeking advice on ICOs especially on technical and marketing matters. According to Chester, the main mission behind the new initiative is to get rid of third parties in the ICO process by replacing them with a technological framework which will serve as a continuous source of solutions.
Inwage’s First Client Raises $50 Million
It seems Inwage is off to an impressive start. The firm’s ICO services are already reaping results. Its first client, Moria has raised $50 million. Moria, which was started as a decentralized funding platform that deals in extraction of precious metals, is backed by Ethmint and a GS mining company that operates a gold mine in Colorado.
Moria’s initial plan was to raise $30 million through the ICO but ended up surpassing their target and raised $50 million.
Chester now says Inwage will be seeking to partner with service providers that deal in regulatory compliance plus investor channels so as to enable companies of all sizes access to ICOs.
Biwage also announced the launch of its ether (ETH) payroll system that will allow digital currency companies to pay their employees using cryptocurrencies.