NYDIG has launched an employee benefit program allowing workers to convert a percentage of each paycheck into bitcoin.
- Employees 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.
- 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, MVB Bank and Vantage 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
