New York Yankees Ready to Pay Employees in Bitcoin by Partnering With NYDIG
Renowned baseball team, New York Yankees, is set to let its employees convert a portion of their paychecks to BTC holdings after striking a deal with Bitcoin-focused financial services firm New York Digital Investment Group (NYDIG).
According to the official press release, the multi-year partnership will allow the Yankees’ employees to access NYDIG’s Bitcoin Savings Plan (BSP), enabling an option to adjust a part of their post-tax salary to be automatically converted into bitcoin.
With no transaction fees involved, the platform, however, does not let its users transfer their coins to external wallets nor receive the asset from external sources.
Per the survey titled “Bitcoin Benefits 2022” by NYDIG, 25% of workers are interested in receiving a portion of their salaries in bitcoin, and, for workers under 30, the number even rises to 36%.
NYDIG says its bitcoin platform – meeting the highest regulatory standard – has been used by companies of all sizes, ranging from small businesses to the Fortune 500.
NYDIG’s chief marketing officer views the partnership as a critical opportunity to leverage the iconic sports franchise’s influence, facilitating its mission of “bring[ing] bitcoin to all.”
“For employees of the Yankees and beyond, the opportunity to allocate a small slice of their paycheck to a Bitcoin Savings Plan can be one of the most efficient ways to save bitcoin, and the dollar-cost averaging can smooth out the bumps along the way. “
Last month, NYDIG tapped the Big Four accounting firm Deloitte for a strategic alliance, aiming to offer bitcoin-related financial services to companies of all sizes. The targeted sectors included banking, consumer loyalty and rewards programs, employee benefit, and more.
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