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NYDIG New Program Supporting Partial Conversion to BTC For Staff Salary Of Member Firms

By Natalie Wu | February 6, 2022

The New York Digital Investment Group (NYDIG) reportedly rolled out a benefits program, offering support for partial conversion of salary to Bitcoin for the staff of all member firms. 

Specifically, the NYDIG reportedly revealed that a few companies from a variety of sectors such as sports, entertainment, and digital currencies would be among the first to provide crypto payments. 

The list reportedly includes Everbowl, MVB Bank, StretchZone, crypto analytics entity The TIE, crypto mining firm Iris Energy and Fertitta Entertainment – the parent corporation of restaurant heavyweight Landry’s and the National Basketball Association’s Houston Rockets.

The staff working for the member firms of NYDIG’s Bitcoin Savings Plan will reportedly have the freedom to select the amount of their pay for the Bitcoin conversion, free of any transaction or cold storage fees.

NYDIG chief innovation officer Patrick Sells further disclosed that the BTC payment plan was rolled out with a primary target of allowing establishments to provide a benefits package to prospective staff that is keen on “protecting their financial futures.”

Per insights from a recent survey carried out by the company, 36% of workers under 30 said they are keen on the option of receiving part of their salary in BTC, with approximately 33% selecting the option of an employer offering payment plans in crypto, as opposed to those solely in fiat or other benefits.

“Offering cutting edge benefits […] helps ensure that we are appealing to the new generation entering the workforce and allows us to attract and retain some of the best talents in the industry” Owner and Head of Fertitta Entertainment Tilman Fertitta additionally remarked. 

Coinbase reportedly also introduced an offering of the same kind in September, catering to workers who wish to deposit their salary payments straight to the crypto exchange, with the sole requirement being users setting up direct deposits via a supported payroll firm on the exchange’s app, or via the HR department at their own firm.

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