Japan: Start paying employees in Bitcoin as of January 2018

The GMO Internet Group in Japan will begin to pay employees partially in bitcoin in 2018. GMO Internet Group invests in the cryptocurrency and will give employees the choice to be paid from about USD $88 in bitcoin (about 10,000 yen) to USD $881 in bitcoin (100,000 yen). According to sources, the offer to paid in bitcoin will be applicable to around 4,000 employees within the GMO group in Japan.

GMO notably has an interest in promoting bitcoin as it actively trades bitcoin and also is due to launch a new cryptocurrency mining operation in 2018. GMO started a Bitcoin exchange trading business in May. Moreover, in January 2018, GMO will become part of the so-called “Bitcoin mining” business which permits the business to the right to receive new Bitcoins as a reward for helping keep the system secure by approving transactions.

GMO Internet Group employees will also receive an additional 10% of their salary they choose to receive in bitcoin as an incentive which will start in early 2018.