Japanese GMO will pay part of salaries in bitcoins

Japanese conglomerate, GMO Internet Group presented the payroll system, which will allow more than 4 700 employees of the company receive part of their wages in bitcoin.

The Internet giant GMO Group has announced that its employees will begin receiving part of their wages in bitcoins from February and March of next year. This option will initially be available only to employees GMO Internet Co. Ltd, but gradually spread to the whole group. According to the website of the conglomerate, as at September this year at GMO Internet, there were 4 710 full-time employees.

On the company’s website also lists 42 subsidiaries included in the GMO Group. Among them — cryptocurrency Coins division GMO and GMO Click is one of the world’s largest Forex brokers. The company notes:

«GMO Internet Group decided to implement a system that allows you to receive part of their salaries in bitcoin, to ensure the right of ownership of virtual currency for our employees.»

The minimum payment in bitcoins will initially be 10,000 yen (about $ 88), and the upper limit will be set at 100,000 yen (881 USD). Each salary payment in yen will be reduced by the amount paid in bitcoins according to the exchange rate on the stock exchange GMO Coins. Employees who create an account on the exchange GMO Coins will be able to receive bitcoins on the same day as the rest of the salary.

After starting
a private exchange bitcoin, in may this year, in September, the company announced that it planned to engage in mining. In the coming years, the conglomerate plans to spend 10 billion yen for the construction of a mining farm in Scandinavia as well as on the development of 7nm, 3.5 nm and 5 nm ASIC chips. In October, the Corporation announced the launch of ICO for sale 7nm ASIC miners.

In his statement on Monday, the company said:

«Our mining direction is scheduled to launch in January 2018. GMO Internet Group will contribute to the development of virtual currencies in the world, encouraging efforts associated with them, in all group companies. In this work, it is very important that our employees actively use the digital currency and raised its cryptocurrency literacy.»

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