UK-based fintech firm, Mode Global, has recently partnered with payroll provider PayEscape in a move to test a service that enables employees to get some of their pay in bitcoin.
Bitcoin Payroll is described as a monthly deduction of net pay that is changed into Bitcoin and deposited directly into a user’s Mode bitcoin (BTC) wallet. The partners state that their service automates the procedure of acquiring an investment that has traditionally been associated with several barriers to entry.
They gave the employees the benefit of “convenient and passive exposure to the best performing asset of the decade”. An internal pilot within Mode and PayEscape has seen some major uptake and will run into the coming year.
The CEO of Mode, Ryan Moore, stated:
“By automating the process of converting monthly pay deductions into bitcoin, Mode aims to make it easy, convenient and accessible for people in the UK to gain exposure to the asset class.”