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Sequoia To Pay Salaries In Bitcoin And Ethereum

Sequoia, known for its stellar investment into WhatsApp years ago, has announced the option for employees to be paid in cryptocurrencies namely – Bitcoin, Ethereum and Bitcoin Cash. 

“We’re excited to offer the members of our team this new benefit,” said T. Richard Stroupe, Jr., co-founder and CEO of Sequoia. “Many of our employees are enthusiastic supporters of cryptocurrency, and we’re happy to help them gain exposure to this trillion-dollar asset class.”

Under the new program, Sequoia employees may elect to defer a portion of their salary into Bitcoin, Bitcoin Cash, or the Ethereum platform’s ether. The company is partnering with a third-party payroll processing firm to withhold taxes and convert the remainder into cryptocurrency, which will be held in a digital wallet administered by the payroll processor.

Paying employees and contract workers with cryptocurrencies is not new. As remote working gets pervasive, a greater number of work force would welcome the idea of fast and efficient payments via cryptocurrencies.

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SuperCryptoNews is a global leading blockchain and crypto news provider, covering daily news on the latest tech and trading developments in crypto. We bring you expansive crypto news coverage especially in Asia, with a focus on Singapore, Thailand and Southeast Asia.

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© Copyright of Novum Global Consultancy Pte Ltd {2020, 2021}. All rights reserved.

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