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Japanese Firm Set to Start Bitcoin Payroll




The GMO Internet Group intends to incorporate a bitcoin-related payroll for all staffers, which means that the Japanese internet giant would be letting employees receive a chunk of their salary in cryptocurrency.

A business venture carries a bit of risk especially with bitcoin’s price volatility, dealing with salary payments in BTC can become tricky. Even with that hanging over their heads, there appears to be a sincere interest in this latest option. GMO has made it clear they expect big things of the popular cryptocurrency, although the current market trend is not all that bearish.

With employees indicating the salary cut they want to receive in Bitcoin, interesting options is on the table. The minimum is 10,000 Yen, whereas the maximum is 100,000 Yen. These amounts are still low compared to what GMO Internet Group employees earn, but this is the first stage of rolling out this feature. There is also an incentive for employees taking part of this option, as they receive a bonus of up to 10%.

There’s a good reason as to why this option is being started in Japan. The country has made bitcoin and other cryptocurrencies legal tender a while back. As such, integrating BTC into a company’s payroll is less complicated than one might think. It seems to be a significant outlier that other Japanese companies may follow this lead by example, assuming GMO Internet Group is successful.

For GMO, the belief in bitcoin and other cryptocurrencies is robust. They consider it to become universal currencies that go beyond the boundaries of fiat currencies. That in itself is a pretty interesting stance, although one not everyone shares. After all, cryptocurrencies remain extremely volatile and have little use outside of speculative measures.

It is evident that cryptocurrency would always elicit divided opinions. With GMO Internet Group bringing positive attention to the ecosystem, good things are bound to happen eventually.

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