New York Yankees to use NYDIG Bitcoin payroll services


Stone Ridge's bitcoin subsidiary NYDIG announced on July
14, 2022, that it had signed a multi-year contract with the New York Yankees of
Major League Baseball (MLB).
NYDIG, which offers infrastructure solutions to financial
institutions and companies looking to operate in the Bitcoin ecosystem, will
serve as the official bitcoin payroll platform for the professional baseball
team, according to the partnership announcement.
With the implementation of NYDIG's benefits plan,
employees will be able to convert a portion of their salary to bitcoins. NYDIG
says that "dozens of leading companies" are already utilizing its BSP
service benefits. It is available to employees and there are no transaction or
storage fees.
Yankees vice president of human resources, Aryn Sobo, said, "We are always looking for innovative ways to expand and improve our employee experience."
She added, "NYDIG made it easy to add Bitcoin to our
roster of benefits, and we look forward to leveraging the NYDIG platform to
offer this opportunity to our employees."
To bridge the gap between Bitcoin and traditional
finance, organizations can partner with third-party service providers, as the
Yankees have done.
Research conducted by NYDIG shows that 36% of its
employees under 30 would be interested in using Bitcoin as part of their
compensation. Over two identical jobs offered by two different employers, one
out of three survey respondents said they would prefer an employer that offered
Bitcoin as an option.
Yankees players are not the only ones to be able to
receive some of their salary in cryptocurrency; Drew Brees, former quarterback
at NFL team the New Orleans Saints, joined NYDIG's Bitcoin Savings Plan in
February.

Pavan A
CBW - External Analyst
INDIA