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Expensify now lets companies reimburse international employees in Bitcoin

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Expensify logo padded
Expensify logo padded

Businesses using Expensify will soon be able to reimburse international employees in Bitcoin. The expense report company today rolled out support for the virtual currency, lending yet more momentum to the decentralized form of payment. Speaking to The Next Web, Expensify CEO David Barrett said that Bitcoin fills a legitimate need for the company. "As our user base grows internationally, we’re getting an increasing number of requests for cross-­currency reimbursement, and Bitcoin is absolutely perfect for this,” he said. Expensify already offers support for overseas reimbursements via PayPal, but the accompanying surcharge (4 percent) can quickly add up. There's no such fee when using Bitcoin. "We’re excited to use this technology in a pretty mainstream way," Barrett said.

Bitcoin has been boosted by expanding support in recent months (including an electronics retailer that accepts the currency as its sole payment method). Despite some hiccups along the way, Bitcoin's value has remained reasonably strong as well. The rapid ascension has even drawn the attention of US officials, who've warned many Bitcoin businesses that they need to register with the government.