US-listed company Vida Global will pay its global team in bitcoin, with settlements in US dollars.
Foresight News reported, citing FinanceWire, that NYSE American-listed company Vida Global (NYSE American: VIDA) has announced the adoption of Voltage Credit to pay its global team members in Bitcoin via the Lightning Network, while all company accounting is fully settled in US dollars. Under this mechanism, Vida uses a revolving credit line to instantly issue Bitcoin salaries and settles the outstanding balance in US dollars at the end of each month, in the same manner as standard vendor invoices, thereby eliminating the need to hold a Bitcoin wallet or reflect cryptocurrency on the balance sheet.
Lyle Pratt, founder and CEO of Vida, stated: "Vida has a global team, including members in Argentina, who prefer to be paid in Bitcoin due to the many challenges facing the local currency."
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Argus raises Dell's target price to $560
Yelooo Integra Datanet corrects July securities holders registration report
Cakra Buana Resources Energi shareholder Republik Capital cuts stake to 9.3% from 11.3%
Preferred shares of South Korean companies are trading at a record 45% discount in ten years; Samsung's 110 trillion won buyback plan may help eliminate the "Korea discount"
Samsung Electronics' highly anticipated stock buyback plan is raising investor expectations that the South Korean giant will purchase non-voting preferred shares, narrowing their deep discount and setting a precedent for other companies.
Crypto prices
More
