Leeds firm pays workforce with Bitcoin

Leeds firm pays workforce with Bitcoin

As the hype surrounding Bitcoin continues to increase, one Leeds-based company is leading the way by offering to pay members of its global workforce in the cryptocurrency.

Victvs Ltd is a global company that provides business support services in over 100 countries and has a global network of over 1000 people.

This makes managing international payments to so many countries a rather difficult task.

Victvs sees Bitcoin as a welcome additional option through which to pay their global network and since 1st December 2017 has offered its members the option of receiving payment in the cryptocurrency.

As worldwide awareness of the rising value and potential applications of cryptocurrencies like Bitcoin continues to increase, it seems likely that more companies may offer to pay overseas workers in Bitcoin to avoid the fees associated with traditional banking.

Victvs CEO and founder, Ben Clayson, believes that Bitcoin and Blockchain technologies hold exciting potential for his global workforce.

He said: “As the connected global workplace evolves, new tools and technologies like Bitcoin are being created to provide people with greater individual control over resources including finance. 

“We believe that cryptocurrency payments will have real benefits for the members of our global network and we expect to see developments in Blockchain technology having a profound effect on our industry in the near future.”

From the point of view of international beneficiaries, receiving payments in Bitcoin comes with far lower processing fees and much quicker receipt of payment than traditional banking methods. 

Whilst the legislation surrounding cryptocurrencies is still unclear in many countries, Bitcoin and others including Ethereum and Monero are gaining in popularity all over the world.

Contrary to popular belief, payments made in Bitcoin are not anonymous and the funds can be exchanged for material goods, with everything from sushi to properties now being offered with a Bitcoin price. 

Despite not being expected to replace traditional currencies, there is no escaping the phenomenal growth of cryptocurrencies and Blockchain.

Victvs Ltd was founded in Sep 2013 by Benjamin Clayson and Andrew Gregory. Based in Castleton Mills, Leeds, the company employs 29 people in the UK and works with over 1000 people in over 100 countries.