New York Yankees Ready to Pay Employees in Bitcoin by Partnering With NYDIG

Renowned baseball team, New York Yankees, is set to let its employees convert a portion of their paychecks to BTC holdings after striking a deal with Bitcoin-focused financial services firm New York Digital Investment Group (NYDIG).

• According to the official press release, the multi-year partnership will allow the Yankees’ employees to access NYDIG’s Bitcoin Savings Plan (BSP), enabling an option to adjust a part of their post-tax salary to be automatically converted into bitcoin.
• With no transaction fees involved, the platform, however, does not let its users transfer their coins to external wallets nor receive the asset from external sources.
• Per the survey titled “Bitcoin Benefits 2022” by NYDIG, 25% of workers are interested in receiving a portion of their salaries in bitcoin, and, for workers under 30, the number even rises to 36%.
• NYDIG says its bitcoin platform – meeting the highest regulatory standard – has been used by companies of all sizes, ranging from small businesses to the Fortune 500.
• NYDIG’s chief marketing officer views the partnership as a critical opportunity to leverage the iconic sports franchise’s influence, facilitating its mission of “bring[ing] bitcoin to all.”

“For employees of the Yankees and beyond, the opportunity to allocate a small slice of their paycheck to a Bitcoin Savings Plan can be one of the most efficient ways to save bitcoin, and the dollar-cost averaging can smooth out the bumps along the way. “

• Last month, NYDIG tapped the Big Four accounting firm Deloitte for a strategic alliance, aiming to offer bitcoin-related financial services to companies of all sizes. The targeted sectors included banking, consumer loyalty and rewards programs, employee benefit, and more.