Mode launches Bitcoin payroll option for UK firms

Rick Steves

“In the post-pandemic world of increasingly digital workplaces, options such as being paid in Bitcoin can enable forward-thinking firms to attract and retain the best talent.”

Bitcoin in a few hands

Mode has partnered with payroll platform Lano in order to enable the firm’s clients to pay their UK employees a portion of their salary in Bitcoin.

The solution allows businesses worldwide to hire, manage and pay talent from across the globe, reducing the complexity of global employment and payroll in more than 150 countries.

The #PayMeInBitcoin movement

Mode’s crypto payroll offering allows UK-based salary recipients to put a portion of their income into Bitcoin on a regular basis, offering greater access to the world’s most popular digital asset.

Demand across employers and employees for more flexible working arrangements has increased. Receiving a portion of salary in Bitcoin is one way to go about it as employees and employers reimagine the way they earn, diversify, save, and spend.

Mode is a London Stock Exchange Main Market listed and FCA-registered firm. Due to its listing and regulatory position, employees who opt-in to receive part of their salary in Bitcoin get their tokens delivered securely in their Mode Wallet, with confidence that they are involved with an FCA-registered business and the hallmarks of credibility that denotes.

Rita Liu, Chief Executive Officer at Mode, commented: “The #PayMeInBitcoin movement has been accelerating in recent months, with adopters ranging from NBA players to hairdressers. In the post-pandemic world of increasingly digital workplaces, options such as being paid in Bitcoin can enable forward-thinking firms to attract and retain the best talent. Our payroll offering helps innovative firms respond to the way their workforce wants to evolve the workplace and we are seeing demand for options around crypto capabilities increase.”

Aurel Albrecht, CEO and Co-Founder of Lano, said: “We are delighted to be working with Mode, giving our UK clients the option of receiving a portion of their salary in Bitcoin. We believe our tech-enabled clients recognise that workers demand flexibility, as well as innovative salary options that continue to evolve and improve their payroll experience—and it’s the perfect way to deliver that capability to a new and evolving workforce. At Lano, we are always looking for innovative payroll partnerships. Mode shares our vision to make financial services fit for the future; it is a pleasure working with their team.”

Read this next

Digital Assets

Silvergate dismisses speculation of trouble, says BlockFi exposure is minimal

Crypto-friendly bank Silvergate Capital claimed on a Tuesday blog post that it had minimal exposure to crypto lender BlockFi, which filed for chapter 11 bankruptcy protection this week.

Retail FX

Fidelity launches crypto trading for retail investors

Fidelity Investments, one of the largest brokerages in the world, has officially rolled out a commission-free crypto trading product for retail investors, starting with zero-fee trading for Bitcoin and Ethereum.

Digital Assets

ECB head calls for tougher crypto regulation after FTX collapse

President of the European Central Bank, Christine Lagarde, has called on lawmakers to start working on fresh crypto regulations to protect the financial system after the collapse of the FTX exchange.

Retail FX

CySEC updates rules for regulated brokers’ cross border activity

As CySEC’s attitude of adopting more stringent licensing guidelines and operating regulations becomes ever clearer, certain aspects of the rules and operations start to come into sharper focus.

Market News

Outlook for Gold: Can the Precious Metal Regain Power?

Gold set an all-time high at $2070 on March 08, 2022, when the price skyrocketed amid investors’ worries about the military conflict in Eastern Europe.

Crypto Insider

2022 Islamic Finance recap: as the space continues to evolve, blockchain stands to play a big part

Despite the global economy being ravaged by turmoil induced by the Covid-19 pandemic over the last couple of years, the Islamic finance industry has emerged relatively unscathed

Crypto Insider

Decentralized Exchanges and Pooled Trading Platform Applications

Decentralized exchanges are one-way blockchain companies take back the power of value creation.

Crypto Insider

How to maximize the safety of your digital tokens?

Digitalization is the future of the investment world. These are the most preferred and growing investments in the world.

Institutional FX, Interviews

FIA EXPO 2022: Interview with Trading Technologies

The derivatives trading industry has gathered in Chicago to attend the FIA EXPO 2022 on 14-15 November. 

<