Published: 04/06/2022
Article reading time:
2 minutes.
Vantage Laredo, a Texas-based bank, has offered its employees the opportunity to receive their salaries in bitcoin and store their savings in this cryptocurrency.
Head of Human Resources at Vantage Bank Eric Thompson thinksthat this option should be available to all bank employees so that they can easily and safely invest in bitcoin without the problems of managing wallets. Bitcoins will be stored on the custodial platform of the New York Digital Investments Group (NYDIG), which works with institutional investors. The management of Vantage Laredo reported that the idea to store savings in bitcoins, and not in traditional fiat currency, was “thrown” to the bank by one of its partners. He had already started the program and asked if Vantage Laredo was interested in taking part.
According to Thompson, this initiative will be just an addition to the many savings programs that are available to bank employees. Vantage Laredo could be the first bank in the state to implement a digital currency savings plan for employees. Thompson also announced his willingness to organize training seminars for them on blockchain and cryptocurrencies, despite the fact that bank employees are not allowed to directly buy, sell or trade digital assets.
“We are pleased to add to the list of organizations offering such programs. Valuable personnel are always difficult to attract and, moreover, to retain. Therefore, we are ready to create conditions for them that will make Vantage Bank an attractive employer for both current and potential employees in Texas,” Thompson said.
This idea would win the approval of Wyoming Senator Cynthia Lummis. She has long urged US citizens to hold bitcoin to secure future retirement. The Texas authorities are also friendly towards cryptocurrencies and are ready to develop this industry. So, at the beginning of the year, Texas Governor Greg Abbott announced his intention to attract as many miners as possible to the state in order to increase electricity production in the region.
Source: Bits
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
