Recently, the multi-billion-dollar Japanese company will start paying its employees salaries in Bitcoin.
Tokyo-based GMO Internet Group that operates web related businesses includes finance, online advertising and internet. Recently, the company announced the new payment option will be launching in February 2018.
Initially, this new payment option will be on avail to employees of GMO Internet Co. Ltd. Later on, it will extended to the entire group, company details in its announcement on Monday. GMO Internet has 4170 employees, according to company’s website.
The company explains,
“The GMO Internet Group has decided to introduce a system that allows part of the salary payment to be received as bitcoin in order to promote ownership of our domestic employees’ virtual currency”.
At the start, GMO Internet will limit the bitcoin amount in which employees can receive on a monthly basis to 100,000 yen- $881. However, when there is more number of staff bitcoin receiving employees the new payment system sustains to operate. Thus the firm will maximum limit of $881.
Remarkably, there is wide adoption of bitcoin and recognizing as a robust store of value. However, the majority of bitcoin owners utilize the cryptocurrency to store their wealth. Significantly, GMOs bitcoin integration into payment system participated by thousands of employees is important. Since, it sets a precedent all over the nation. Know that, Japan has legalized bitcoin, so further there will be more number of conglomerates will accept bitcoin as a means of payment.