Vantage Bank Texas made headlines with its new Bitcoin payment option for employees

Earlier this week, Vantage Bank Texas made headlines with its new Bitcoin payment option for employees. Vantage Bank HR Director Eric Thompson explained how the Bitcoin Savings Plan was designed. It’s a new program they started and they asked us if we would be interested in participating.

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As part of the new payment options, NYDIG is offering employees an easy on-ramp to investing in Bitcoin with its Bitcoin Savings Plan. The concept converts a percentage of an employee’s salary into Bitcoin, which is then stored on a platform that meets the highest security and regulatory standards. In a survey conducted by NYDIG in 2022, more than a third of employees between the ages of 18 and 29 expressed an interest in earning part of their salary in Bitcoin.

Bitcoin payment option for employees

Texas-based Laredo Vantage Bank is trying to move away from traditional savings plans by introducing a new option for employees to participate in a Bitcoin savings plan with the company. NYDIG’s Bitcoin Savings Plan is a new program that aims to make Bitcoin investing as easy as possible.

The Bitcoin Savings Plan allows volunteer bank workers to automatically convert part of their salary into Bitcoin. After that, the bitcoin is stored on NYDIG’s institutional-grade custodial infrastructure.

NYDIG’s Bitcoin Savings Plan, one of the new payment choices, provides employees with a simple on-ramp to investing in Bitcoin. The proposal converts a portion of employee paychecks into Bitcoin, which is then stored on an institutional-grade custodial platform that meets the strictest security and regulatory requirements.

According to the bank, the technology is more popular among younger employees. In a survey conducted by NYDIG in 2022, more than a third of employees between the ages of 18 and 29 expressed interest in earning a percentage of their salary in Bitcoin.

“We are thrilled to be part of the many organizations across the country that offer this program,” Thompson said, describing the program’s benefits for businesses. “Attracting and retaining great staff has been particularly difficult during this ‘big quit’. Vantage Bank Texas is an employer of choice for existing and potential workers because we focus on our people and the benefits we provide. »

Although the Bitcoin savings plan is new and intriguing, the bank will continue to offer standard savings plans. Investing in Bitcoin is not the only option.

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Also Read: Mastercard Filed 15 Trademark Applications for Crypto-Related Services

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