GMO Internet Group to Start Paying Employees in Bitcoin
Group Become the First Mainstream Company to Move to Partial Bitcoin Payment
A spokesperson from Japanese company GMO Group has confirmed that employees will be able to opt in to a scheme offering partial salary payment in Bitcoin.
The threshold for payments will start at about $88 up to a maximum of $888 per month, and GMO Group will extend the offer to some 4000 Japanese employees from March 2018.
Learning on the Job
While the blockchain world have been paying employees in crypto for a while, GMO Group is a worldwide, mainstream operation, comprising around 60 companies across the globe. They have long been involved in trading and mining, and this latest development will “…improve our own literacy of virtual currency by actually using it”, according to the spokesperson.
Back in May, GMO launched a cryptocurrency exchange called Z.com Coin (now GMO coin). This was followed up with the announcement of a mining business in September, due to begin operations in January 2018.
While Japanese law dictates that employees are paid in a recognized currency, GMO believe they have successfully circumvented this issue. By keeping the scheme as opt-in, it is the employee’s choice if they wish their salary, which GMO Group will declare in Yen, to be partially diverted to Bitcoin.