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Mode and PayEscape pilot bitcoin payroll product

Mode and PayEscape pilot bitcoin payroll product

UK fintech Mode Global has teamed up with payroll provider PayEscape to pilot a service that lets employees get a portion of their pay in bitcoin.

Bitcoin Payroll is a monthly deduction of net pay that is converted into Bitcoin and deposited directly into a user's Mode bitcoin wallet.

The partners say that their service automates the process of buying an investment that has traditionally been associated with a number of barriers to entry, giving employees the benefit of "convenient and passive exposure to the best performing asset of the decade".

An internal pilot within Mode and PayEscape has seen "significant uptake" and will run into next year.

Ryan Moore, CEO, Mode, says: "By automating the process of converting monthly pay deductions into bitcoin, Mode aims to make it easy, convenient and accessible for people in the UK to gain exposure to the asset class."

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