Sequoia Holdings To Offer Its Employees Salaries In Bitcoin And Ethereum

Employees of the large provider of cloud migration, app development, and software engineering services, Sequoia Holdings, could start receiving their salaries in various cryptocurrencies. Some of the options include Bitcoin, Bitcoin Cash, and Ethereum.

  • Founded in 2012, Sequoia Holdings, LLC is a provider of advanced analytic solutions, agile software development, cybersecurity products, and other IT-related services.
  • Earlier today, the Reston, VA-based firm announced that employers could choose the option to receive a portion of their salary in the form of cryptocurrencies.
  • “We are excited to offer the members of our team this new benefit. Many of our employees are enthusiastic supporters of cryptocurrency, and we are happy to help them gain exposure to this trillion-dollar asset class.” – commented co-founder and CEO T. Richard Stroupe. 

  • The executive added that the crypto industry has grown to be an “important alternative to traditional investments like stocks and bonds.”
  • Somewhat expectedly, employers would have the option to choose between some of the most popular digital assets. These include Bitcoin (BTC), Bitcoin Cash (BCH), and Ethereum (ETH). 
  • The statement also informed about a partnership with a third-party payroll processing company in order to withhold taxes and convert the remainder into cryptocurrency, which would be stored in a digital wallet administered by that firm.
  • Sequoia said that its decision came after Carolina Panthers’ Russell Okung informed that his team pays a part of his salary in BTC through a third-party.

Regulation and Society adoption