RESTON, Va., Jan. 21, 2021 /PRNewswire/ — Sequoia Holdings LLC has begun providing workers the choice to obtain a portion of their wage in cryptocurrencies like Bitcoin.
“We’re excited to supply the members of our crew this new profit,” stated T. Richard Stroupe, Jr., co-founder and CEO of Sequoia. “Lots of our workers are enthusiastic supporters of cryptocurrency, and we’re joyful to assist them achieve publicity to this trillion-dollar asset class.”
Below the brand new program, Sequoia workers could elect to defer a portion of their wage into Bitcoin, Bitcoin Money, or the Ethereum platform’s ether. The corporate is partnering with a third-party payroll processing agency to withhold taxes and convert the rest into cryptocurrency, which shall be held in a digital pockets administered by the payroll processor.
The mechanism is just like how an worker would defer a portion of his or her wage towards a 401(ok) retirement financial savings plan. On this case, although, the deferral is after tax.
Russell Okung, an offensive sort out for the Carolina Panthers of the Nationwide Soccer League, just lately made headlines for turning into the primary skilled soccer participant to obtain a portion of his wage in Bitcoin, in a lot the identical manner that Sequoia workers could elect to.
“Cryptocurrency has emerged as an necessary various to conventional investments like shares and bonds,” Stroupe stated. “We’re proud to present the members of our crew the flexibility to simply put money into cryptocurrency and construct their financial savings.”
Sequoia is an award-winning, employee-owned supplier of high-end software program growth and engineering providers centered on enhancing the analytic, assortment, collaboration and sharing of knowledge. Headquartered in Reston, Virginia, we’re a crew of passionate, devoted people who love collaborating to construct distinctive software program merchandise and options. Sequoia supplies engineering and analytic options to the nationwide safety sector, together with the U.S. intelligence, protection and homeland safety communities. For extra info, go to www.sequoiainc.com.
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SOURCE Sequoia Holdings LLC