- The New York Yankees MLB team has partnered with NYDIG to allow its employees to be paid in bitcoin.
- NYDIG offers a benefits plan that allows employees to choose any portion of their paycheck to convert into BTC with no transaction fees.
- The Yankees will become the first MLB team to pay its employees in bitcoin.
The New York Yankees announced a multi-year partnership with Bitcoin service provider NYDIG to allow its employees to be paid in bitcoin, according to a joint press release.
“We are always looking for innovative ways to expand and improve the employee experience,” said Aryn Sobo, Chief Human Resources Officer, Yankees. “NYDIG has made it easy to add Bitcoin to our list of benefits, and we look forward to leveraging the NYDIG platform to provide this opportunity for our employees.”
Organizations like the Yankees that lack the infrastructure to pay part of their employees’ salaries in BTC can partner with third-party service providers to bridge the gap between Bitcoin and traditional finance. exactly what the Yankees did.
NYDIG, a bitcoin-only financial services company that provides infrastructure for companies and financial institutions that want to operate within the Bitcoin ecosystem, will provide Bitcoin Savings Plan (BSP) into the world famous Baseball League (MLB) team, becoming their Official Bitcoin Payroll Platform.
BSP allows employees of organizations like the Yankees to choose a certain amount of their after-tax pay to convert into bitcoin – with no transaction fees. While users can sell bitcoins on the platform, BTC cannot be deposited from an external source into the NYDIG custody platform or transferred to an external wallet.
“For Yankees employees and beyond, the opportunity to allocate a small portion of their paychecks into a Bitcoin Savings Plan can be one of the most effective ways to save bitcoin and cost averaging. dollars can soften the bumps in the process,” said Kelly Brewster, chief marketing officer at NYDIG. “We commend the Yankees for understanding the competitive opportunities and value of offering bitcoin options to their institution.”