Institutional bitcoin broker NYDIG has launched an employee benefit program allowing workers of participating companies to convert a percentage of each paycheck into bitcoin.
Employees that are enrolled in the Bitcoin Savings Plan can choose what percentage of their pay they would like to auto-convert to bitcoin, and the crypto is then held in NYDIG’s cold-storage system with no transaction or storage fees.Crypto exchanges Strike and Coinbase launched similar platforms last year, but those did not require an employer to sign up in order for a worker to take advantage. NYDIG’s Bitcoin Savings Plan, on the other hand, requires employer participation.Among the roster of companies offering the service to their employees at launch are Tilman Fertitta’s Houston Rockets and Landry’s restaurants, MVB Bank, bitcoin miner Iris Energy and crypto data company The Tie.
Read more: Institutional Bitcoin Broker NYDIG Valued at $7B in Whopping $1B Funding Round
Read MoreFeedzy
Institutional bitcoin broker NYDIG has launched an employee benefit program allowing workers of participating companies to convert a percentage of each paycheck into bitcoin.
Employees that are enrolled in the Bitcoin Savings Plan can choose what percentage of their pay they would like to auto-convert to bitcoin, and the crypto is then held in NYDIG’s cold-storage system with no transaction or storage fees.
Crypto exchanges Strike and Coinbase launched similar platforms last year, but those did not require an employer to sign up in order for a worker to take advantage. NYDIG’s Bitcoin Savings Plan, on the other hand, requires employer participation.
Among the roster of companies offering the service to their employees at launch are Tilman Fertitta’s Houston Rockets and Landry’s restaurants, MVB Bank, bitcoin miner Iris Energy and crypto data company The Tie.
DISCLOSURE
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.
