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Crypto Enthusiasts Disappointed By Lack of Employers Willing to Pay in Bitcoin



employers willing to pay in bitcoin

SYDNEY, 12 September 2018. – The majority of employees would be willing to receive part or all of their wages in bitcoin or other cryptocurrencies, according to ChronoBank’s survey. However, businesses typically lag in their attitudes – despite the fact that the poll highlights the advantages such a move would offer both employers and their workers.

In July 2018, HR blockchain startup ChronoBank surveyed 445 cryptocurrency enthusiasts from all over the world including the US, Australia, and Russia to learn more about this emerging financial landscape. Results of the survey revealed that 92 percent of the respondents were male, and 40 percent were aged between 25 and 34 and 75 percent are currently employed.

Survey Findings

  • 66 percent of respondents are willing to receive wages in cryptocurrencies;

  • Only 30 percent believe that companies in their country will change to paying salaries in digital assets;

  • 83 percent are willing to receive their bonus payments in cryptocurrencies;

  • Only 52 percent are ready to pay taxes on their digital revenues;

  • 57 percent of respondents are confident that payments in crypto will positively affect the economic growth of countries.

Payments in crypto

Despite the active development of the cryptocurrency and blockchain economy in 2016-18, employers are not taking advantage of these new technologies. 72 percent of respondents stated that employers never offered them to switch salary to payments in cryptocurrencies. However, 66 percent of those surveyed expected that their employers should embrace technological change and that they would be willing to receive wages in cryptocurrencies. However, an incredible 83 percent of respondents were more than happy to receive their bonus payments in cryptocurrencies.

Sergei Sergienko, CEO of Chronobank, said: “Most revealing was that 72 percent of those surveyed said they would prefer an employer who has the salary payment option in the cryptocurrency when choosing their next place of employment. These results suggest that employers need to get up to speed with crypto sooner rather than later.”

Access to quick and convenient money transfers appear to be the main advantages in paying salaries in cryptocurrencies. But this answer changed depending on the nationality of users. For example, 37.5 percent respondents in Australia think that the most significant benefit of getting paid in crypto is tax avoidance. However, the majority of respondents still believe in the growth of the value of digital assets in the future.

50 percent believe that receiving a salary in cryptocurrency would help them spend less and only 19 percent would use it to make transactions. Why? Because if they left their crypto in their wallets, there is still an expectation that the value would increase. For younger people in the 18-24 bracket, the number of holders is even higher at 60 percent.

Users are aware of the potential risks that surround cryptocurrencies, but almost half of the respondents (49 percent) are much more concerned about the price volatility of digital assets. Younger people in particular (18-24) are more concerned about being the victim of an attack by a hacker (34 percent) than price volatility (44 percent).

Conversion of cryptocurrency into fiat at receiving salary would only be carried out by every fifth respondent. At the same time, only half of those polled are ready to pay taxes on their digital revenues, and about 25 percent have not yet decided. Although 65 percent of those surveyed in the US was prepared to pay taxes, in other countries such as Russia, only 30 percent are ready. But it’s important to highlight that overall, 62.5 percent of younger people are much more willing to pay taxes on crypto globally.

Future Perspectives

Bitcoin LogoSergei Sergienko said: “Even though there are ongoing changes in the legislation of different countries in the field of cryptocurrency, audiences are still not adequately informed about the innovations. Almost half of the respondents do not have enough information on whether salary payments in cryptocurrencies in their countries are allowed.”

Only 33 percent stated that they know that the relevant transactions are permitted in their country. In the USA – 43,5 percent know it’s allowed. Meanwhile, in Russia, the most common answer that it is not allowed (48 percent) and Russians understand about that.  

Despite the readiness of the respondents to receive funds in the cryptocurrency, most of them doubt that the companies will switch to salary payments in the cryptocurrency. Only 30 percent of respondents believe that companies in their country will change to paying salaries in digital assets. Surprisingly, in the USA it’s even lower, but in Australia, people are more optimistic.  

With respect to the regions that will lead to the payment of salaries in cryptocurrencies, Japan (32 percent) is leading the way. The US (15 percent) and South Korea (15 percent) are next in line, but US respondents believe more in South Korea (25 percent) than in Japan (only 13 percent). In Russia, 47 percent believe that Japan is the complete leader in the industry.

57 percent of respondents are confident that such initiatives will positively affect the economic growth of countries. By contrast, US respondents (47 percent) are a bit more skeptical than average.

In the field of HR, the majority of respondents are confident that the blockchain will be used as a secure system for payments. About 23 percent also believe that the blockchain will not be limited to this sphere and will allow employers to verify the data of employees using this technology.

*Readers should do their own due diligence before taking any actions related to the company, product or service. is not responsible, directly or indirectly, for any loss or damage caused by or in connection with the use of or reliance on any content, product or service mentioned in this press release.*

Press Releases

TokenMarket Opens New Security Token Offering Service




LONDONSept. 17, 2018 /PRNewswire/ — TokenMarket, Gibraltar and London based token sale advisory firm, is pleased to announce the launch of its new Security Token Offering (STO) service.

The STO Service will assist issuers and investment banks with all the technical aspects of the token issuance, including in-house developed, world-class security token framework.

As of today, TokenMarket is already building a pipeline of STO issuances.

TokenMarketTokenisation in this context refers to a method of converting rights to an equity or debt instrument into a token; digital representation that lives on a blockchain. Tokens retain the investor protections of a regulated asset, but still enjoy the benefits of blockchain technology with instant settlements, borderless distribution (in accordance with legal and regulatory requirements) and counterparty risk mitigation.

While the financial regulations are adjusting to blockchain technology, the first investment types are likely to be private placements and crowdfunding of SME growth companies, real estate, and investment funds.

TokenMarket assists issuers with a variety of services including: tokenisation of new and existing assets on the blockchain, programming of associated token rights such as dividend and voting rights into the token smart contract, on-chain governance, as well as more general strategic and technical advisory.

Ransu Salovaara, CEO of TokenMarket, said: “We are excited to start a new chapter by offering solutions and services for asset tokenisation. With over $350 million dollars worth of ICO’s under our belt, we know a lot about token offerings from technology to strategy. We are currently in talks with businesses across multiple sectors on how we can best facilitate STO’s for startups and growth companies.”

“Our token sale smart contracts have been battle tested in dozens of offerings including ones from third party vendors. Likewise, our STO toolchain will be available under the Apache 2 Open Source License. We are excited for what the future of our STO service holds,” says Mikko Ohtamaa, CTO of TokenMarket.

TokenMarket’s regulatory efforts are moving forward as the company was accepted in the  FCA Regulatory Sandbox in July of this year. In addition, TokenMarket has been given a trial period to test and measure the implementation and the practice of tokenising equity in the UK. TokenMarket has also received “In Principle” Distributed Ledger Technology (DLT)approval from the Gibraltar Financial Services Commission (GFSC).

More information regarding the TokenMarket STO Services offering can be found at

*Readers should do their own due diligence before taking any actions related to the company, product or service. is not responsible, directly or indirectly, for any loss or damage caused by or in connection with the use of or reliance on any content, product or service mentioned in this press release.*

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SALT Announces Largest Expansion to Date; Now in 80 Percent of the U.S., Totaling 10 International Territories



SALT Lending
PRNewsfoto/SALT Lending Holdings, Inc.

DENVERSept. 18, 2018 /PRNewswire/ — SALT, the world’s premiere provider of cryptocurrency collateralised Blockchain-Backed Loans™, today announces its most significant expansion to date, opening operations in 15 additional U.S. jurisdictions including New JerseyMassachusettsWashington and Texas, as well as an additional 7 territories including BrazilHong KongSwitzerlandBermudaVietnamPuerto Rico and the United Arab Emirates. This rapid expansion of services comes on the heels of SALT’s 20-state expansion in August as the company approaches its goal of being fully operational in all 50 states.

DollarAs SALT continues its global expansion, its competitive offerings— including flexible loan terms, no origination fee, no prepayment fee, and no servicing fee or closing costs— enable the company to maintain its position as market leader. “The number of cryptocurrency holders has already increased by more than 70 percent worldwide during the past year, which points to the potential of a dramatic increase in loan demand,” said Bill Sinclair, Interim President and CEO of SALT. “Given SALT is also one of the few companies that actually lends in fiat currency, we’re in a unique position to democratise loan access by providing a multi-faceted loan service to businesses and consumers across the world.”

This expansion and greater flexibility for borrowers supports SALT’s mission to not only increase loan access but to also grant its customers maximum utility of their assets. With more than 60 percent of cryptocurrency trading in international currencies, SALT seeks to continue increasing international exposure and providing its services to crypto holders across the globe. “Overall, it’s about providing more liquidity to the crypto-market,” Sinclair continued. “This is yet another leap forward in allowing both the banked and unbanked to gain access to traditional financial institutions through their blockchain assets.”

*Readers should do their own due diligence before taking any actions related to the company, product or service. is not responsible, directly or indirectly, for any loss or damage caused by or in connection with the use of or reliance on any content, product or service mentioned in this press release.*

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Press Releases

ETHLend Announces Launch of New Parent Company ‘Aave’



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CHIASSO, SwitzerlandSept. 18, 2018 /PRNewswire/ — Founders behind popular Swiss-based decentralised digital asset-backed lending platform ETHLend, today announced the launch of Aave, a new technology company focused on empowering people through innovation. The name Aave, which comes from the Finnish word for “ghost,” was chosen because the brand continues to intrigue users through its evolving and imaginative technology. The technology-based venture intends to fill the gaps left by centralised fintech industry players such as PayPal, Skrill and Coinbase, by introducing new products and services, such as Aave Pocket, Aave Lending (SaaS), Aave Gaming, Aave Custody and Aave Clearing.

The executive roles will remain the same with ETHLend becoming a subsidiary under Aave. Stani Kulechov will stay on as CEO, Jordan Lazaro Gustave as COO, and Nolvia Serrano as CMO. Mika Söyring will join as CFO and Ville Valkonen as CCO. Mika previously served as the CFO of health technology company Revenio Group Corporation (formerly Done Solutions Corporation) and has extensive experience as an entrepreneur and a financial specialist. Ville previously operated a legal consulting firm that focused on start-ups in Finland and also worked for law firms, focusing heavily on SMEs and providing counseling on contract matters.

Stani Kulechov, CEO of Aave, said, “By integrating our innovative technology into the services already offered by traditional institutions, we can transform the way people interact and provide new products and services that will help them seamlessly achieve their goals at a lower cost, ultimately giving them access to new opportunities that have not been possible before.”

Aaave“Aave is a pioneer in the lending industry. As ETHLend, Aave was the first in the space to provide a solution to those in need of liquidity and unlock what was previously viewed as unassailable funds,” said Andrew Karos, CEO and Founder of BlueFire Capital and an Aave customer. “It’s very satisfying to watch them evolve. As a U.S.-based market maker, I can confirm that they understand the level of importance in policy, procedure, and safety, and I look ahead with much enthusiasm for the future of our working relationship.”

Aave’s portfolio of products ranges across several industries, including technology, finance, and games. The company will continue to power its existing products in addition to new ones aimed at Millennials and Generation Z.  Several products under Aave’s line include:

  • Aave Pocket is an ambient account innovation, and one of the first products developed by Aave to serve the gig economy and micropayments industry, removing the need for credit cards and bank-to-bank fees between online merchants/developer entrepreneurs, and their end-user customers. All transactions stay where the user is earning and spending, contained within an application, enabling true peer-to-peer payment, even across international borders.
  • ETHLend is a decentralised financial marketplace for peer-to-peer digital asset-backed loans operating on the Ethereum blockchain using smart contracts. ETHLend solves the liquidity challenge of being cash-poor, but crypto-asset rich. Borrowers can request secure loans by pledging their cryptocurrency assets as collateral to receive spendable funds. This enables borrowers to retain their exposure on cryptocurrency without the need for selling the assets when the borrower has sudden expenses.
  • Aave Lending, inspired by ETHLend, is a turnkey solution for the digital asset-backed lending market. Aave Lending solves the issues that follow digital asset storing and digital asset-backed loan management for creditors. As a SaaS (Software-as-a-Service) solution, creditors can easily start a digital asset-backed lending business while Aave takes care of secure collateral storage, notifications and liquidation upon margin calls.
  • Aave Custody, currently available for use, is designed for institutional or private investors and serves as a custodian for storing digital assets. Aave stores private keys by following the highest and most innovative security standards. Funds can be moved in and out of custody on a daily basis.
  • Aave Clearing is an over-the-counter (OTC) cryptocurrency clearing service for institutional investors and businesses who need to convert large amounts of cryptocurrency with speed and efficiency. The platform provides users with an easy-to-use interface and an API connection, giving them the ability to generate quote requests for cryptocurrencies as well as exchange their cryptocurrency for traditional currencies.
  • Aave Gaming is an innovative game studio focused on creating a new gaming experience using Blockchain, Smart Contracts, and mixed reality.

“In the last decade, legacy industries have experienced a major change. Banking is no longer limited to traditional institutions,” said Jordan Lazaro Gustave, COO of Aave. “As a team of developers and creative thinkers, Aave is no stranger to these market forces. By integrating emerging technologies we will continue to offer secure and transparent applications, with reduced costs, to instill trust and confidence within our users, while delivering an experience they can enjoy.”

*Readers should do their own due diligence before taking any actions related to the company, product or service. is not responsible, directly or indirectly, for any loss or damage caused by or in connection with the use of or reliance on any content, product or service mentioned in this press release.*

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