On July 14, 2022, the bitcoin company NYDIG, a subsidiary of Stone Ridge, announced that it has signed a multi-year contract with the New York Yankees, a Major League Baseball (MLB) team Major League Baseball (MLB) team, the New York Yankees. According to the partnership announcement, NYDIG will be the professional baseball team’s “official Bitcoin payroll platform.”
NYDIG Signs Multi-Year Partnership Agreement with MLB’s New York Yankees
Bitcoin company NYDIG announced Thursdaythat it has signed a multi-year According to NYDIG, the agreement will allow Yankees employees to access the company’s Bitcoin Savings Plan (BSP).
NYDIG’s BSP product provides members of the Yankees organization the ability to convert a portion of their paychecks into bitcoin (BTC). Employees can access this benefit through the NYDIG platform and there are no transaction or custody fees associated with the BSP product; according to NYDIG, “dozens of leading companies” are already taking advantage of NYDIG’s BSP service benefits.
Aryn Sobo, the Yankees’ vice president of human resources, employment, and labor law, detailed that the baseball team is “always looking for innovative ways to expand and improve the employee experience.” The move comes at a time when younger employees are choosing to earn a portion of their salaries inBTC; NYDIG research shows that 36% of employees under the age of 30 are interested in such payments; Sobo added, ” NYDIG could easily add bitcoin to our benefits roster.”
The Yankees’ vice president of human resources added:
We look forward to leveraging the NYDIG platform to provide this opportunity to our employees.
NYDIG executive says company’s “savings plan could be one of the most efficient ways to save bitcoin”
NYDIG’s deal with the New York Yankees is the company’s first sports franchise; in mid-November 2021, NYDIG partnered with the Houston Rockets, a National Basketball Association (NBA) team. Weeks before the deal with the Rockets, the bitcoin-focused fintech company revealed that it would work with MVB Bank to provide white-label bitcoin solutions to third parties. On Thursday, NYDIG Chief Marketing Officer Kelly Brewster said the company is looking forward to working with the American baseball team.
“We are proud to partner with our hometown team and iconic sports franchise, the Yankees, to promote our mission of bringing bitcoin to everyone.” Brewster said in a statement. “NYDIG is committed to helping our customers realize the full potential of bitcoin while providing the service and standards that have made our name synonymous with trust. For Yankees and the rest of our employees, the opportunity to allocate a small portion of their paycheck to a Bitcoin Savings Plan can be one of the most efficient ways to save Bitcoin, and dollar cost averaging can smooth out the bumps along the way,” the NYDIG executive added.
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