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Using bitcoin to pay wages, the Japanese Internet giant GMO is determined to promote virtual currency

Japan's Internet giant GMO launched a new pay system, the company's more than 4,700 employees part of the wages will be paid in the form of bitcoin .

Bitcoin compensation system

GMO announced that from February next year, part of the company's staff wages will be bitcoin. The company said in a statement that from the outset, only employees of the GMO Internet subsidiary would receive wages in this form, but gradually expanded to the entire group. The company's Web site shows that as of September this year, the number of full-time employees of its Internet subsidiary has reached 4710.

The GMO Group has 42 subsidiaries, including GMO Coins - Cryptocurrency, and GMO Click, the world's largest forex trading platform.

In order to advance the Bitcoin payroll system, the company mentioned:

GMO Internet Group has decided to allow part of the wage payment in the form of bitcoin, designed to encourage internal staff to hold virtual currency.
Employees may receive bitcoin pay between 10,000 yen (about 584 yuan) and 100,000 yen (about 5836 yuan). At the GMO Coins exchange rate, a certain amount of bitcoin will be deducted from each salary. Employees registered on this exchange can receive bitcoins on the exchange rate on the payday.

Promote cryptocurrency development

After the announcement of the launch of the cryptocurrency trading platform in May , the GMO released a mining plan in September . In the next few years, the company plans to build a mine while developing chips for 7nm, 5nm and 3.5nm. In October, GMO announced the sale of 7nm mining equipment through the sale of tokens.

The company mentioned in a statement on Monday:

The company's mining business plan in January 2018 began.
GMO will contribute to the development of the global fictitious currency by fostering virtual currency within the group.
In order to further strengthen the development of virtual currency, it is necessary for employees to actively use the virtual currency and learn relevant knowledge.