Compliance Built
Into Every
Transaction.
OFAC screening, KYC/AML verification, W-8BEN collection, and 1099-NEC reporting — automatic on every payment, not bolted on after.
70+ money transmission licenses via Paystand Group · Compliant stablecoin payments
Six Compliance Layers on Every Transaction
Compliance is not an audit step — it runs on every payment, in every batch, automatically.
OFAC Sanctions Screening
Every recipient screened against US Treasury SDN list and all other sanctions programs before execution. Applies to every batch run — not just first onboarding.
Learn moreKYC / AML Verification
Identity verification built into the self-service onboarding portal. AML monitoring runs continuously on transaction patterns, not just at signup.
Learn moreW-8BEN Collection
Non-US contractors complete the W-8BEN digitally during onboarding. Platform validates, stores, and triggers reminders for missing or expired forms.
Learn more1099-NEC Reporting
Annual payments aggregated automatically. Pre-populated 1099-NEC forms ready for finance team review before the January filing deadline.
Learn more70+ MTLs via Paystand Group
Money transmission licenses covering US (state MTLs), EU (EMI), UK (FCA), and key APAC/LATAM markets. No separate licensing required for customers.
Learn moreFull Audit Trail
Every payment, approval, configuration change, and compliance check logged with timestamps, user identity, and IP. Immutable for regulatory examination.
Learn more70+ Licenses.
Your Business Doesn't Need Any.
Bitwage operates under 70+ money transmission and payment services licenses via Paystand Group — covering every major market where global contractor payroll and international vendor payments are processed. Customers inherit this regulatory coverage. No separate licensing, no compliance infrastructure build-out.
See how compliance integrates with every payment step — from contractor onboarding to mass payout execution. Read the international contractor compliance checklist for a full breakdown.
Compliance FAQ
How OFAC screening, KYC, W-8BEN, and licensing work on the Bitwage Platform.
Every payment recipient is screened against the OFAC sanctions screening Specially Designated Nationals (SDN) list and all other US Treasury sanctions programs before execution. Screening happens automatically on every batch run — not on first onboarding only. Flagged recipients are blocked and finance teams are notified before any funds move.
The KYC / AML compliance verification is embedded in the contractor and vendor self-service onboarding flow. Recipients verify identity before they can receive their first payment. Enhanced due diligence applies automatically for higher-risk corridors and payment amounts. AML monitoring runs continuously on transaction patterns — not just at onboarding.
The W-8BEN foreign contractor form collection is built into the contractor onboarding portal. Non-US contractors complete the form digitally during self-service enrollment. The platform validates, stores, and timestamps each form. Finance teams have a real-time dashboard showing W-8BEN status across their entire contractor roster — with automated reminders for missing or expired forms.
Yes. The platform aggregates annual payments to each contractor and generates 1099-NEC contractor tax filing reports automatically. Forms are pre-populated from payment records and contractor data collected during onboarding. Finance teams can review, correct, and export the full 1099 package before the January filing deadline.
Bitwage operates under 70+ money transmission licenses via Paystand Group, covering the US (state-by-state MTLs), EU (EMI license), UK (FCA authorization), and key markets in APAC and LATAM. This regulatory stack means businesses do not need to obtain their own money transmission licenses to operate international payroll or vendor payments through the platform.
Built-in compliance from day one.
No compliance engineers needed. OFAC, KYC, W-8BEN, and 1099-NEC run automatically on every transaction.