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New York Yankees to pay a portion of employee salaries in Bitcoin

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New York Yankees, one of the top baseball teams in the United States, has announced a partnership with NYDIG. Through this partnership, the baseball team will give their employees the option of being paid in Bitcoin.

New York Yankees to pay employees in Bitcoin

The New York Digital Investment Group (NYDIG) is one of the leading financial services companies in New York with keen attention to Bitcoin. The firm will now work with New York Yankees and enable the team to pay a part of their employee salaries in Bitcoin.

An official press release from the company said that this multi-year partnership deal would allow the baseball team to access the Bitcoin Savings Plan offered by NYDIG. It will also have an option for adjusting the post-tax salary to that it can be automatically converted into Bitcoin.

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NYDIG’s BSP platform does not charge transaction fees, making it more convenient to use than other platforms that support Bitcoin payments. However, the platform does not have an option for users to transfer their crypto to external wallets or receive crypto from external wallets.

The company ascertains that its Bitcoin platform has met all regulatory requirements. Therefore, it has been adopted by large and small businesses that want to allow their stakeholders to interact with Bitcoin.

Commenting on the recent partnership with the Yankees, the chief marketing officer at NYDIG said that this move was a major opportunity for the company to tap into the baseball sports space. Moreover, the partnership will allow the company to meet its mission of making Bitcoin available to everyone.

The executive further said that allowing its employees to allocate part of their paycheck in Bitcoin was one of the most effective ways of gaining exposure to the cryptocurrency market.

NYDIG tapping into the US crypto market

NYDIG recently conducted a survey that showed that 25% of the workers were interested in receiving part of their salaries in Bitcoin. The survey titled “Bitcoin Benefits 2022” also showed that 36% of the workers aged below 30 years were interested in receiving a portion of their salaries in Bitcoin.

In June, the NYDIG partnered with the Deloitte accounting firm to make it easier for businesses to access Bitcoin services. The partnership targeted different sectors, among them banking, employee benefit, consumer loyalty, rewards, etc.

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