GMO Internet Inc pays 4700 employees using bitcoin

GMO Internet Inc. pays more than 4700 employees using bitcoin. The Tokyo-based Internet giant has announced a payroll system to enable employees to receive their paychecks in cryptocurrency beginning in February 2018 for the March payment period.

GMO Internet Group on Monday announced it has set up a payroll option using bitcoin for GMO Internet Inc. employees, but will gradually expand to the entire group network. The internet conglomerate has 42 subsidiaries and 4,710 permanent employees in September 2019.

The GMO Wallet service was first launched in early 2017. Each bitcoin payment amount uses the exchange rate on GMO Coins exchanges where employees who create accounts will receive bitcoin on the same day as their pay.

The company is engaged in online advertising business, Internet infrastructure, internet security and mobile entertainment. GMO Click Securities brokerage firm has become the world's largest FX provider in trading volume since 2012. The company also launched a blockchain development service for customers in July.