Payments

Mode, PayEscape deploy Bitcoin Payroll solution

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November 22, 2021

Model Global Holdings PLC, a fintech, has partnered with PayEscape, a payroll provider in the U.K., to launch its Bitcoin Payroll solution. This service can detect pay and convert it into bitcoin, which is then deposited into a user's Mode bitcoin wallet, according to a press release.

The companies will initially launch Bitcoin Payroll as a trial throughout the remainder of 2021 and the beginning of 2022. The goal is to help reduce barriers to entry with bitcoin and attract employees.

"Bitcoin Payroll is another step towards breaking down the barriers to mainstream Bitcoin adoption," Ryan Moore, CEO of Mode, said in the release. "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. I am delighted to be able to leverage our regulated, trusted environment to deliver these benefits and build on the already strong wealth that is stored within the Mode ecosystem."