US-listed company Vida Global will pay its global team in bitcoin, with settlements in US dollars.
Foresight News reported, citing FinanceWire, that NYSE American-listed company Vida Global (NYSE American: VIDA) has announced the adoption of Voltage Credit to pay its global team members in Bitcoin via the Lightning Network, while all company accounting is fully settled in US dollars. Under this mechanism, Vida uses a revolving credit line to instantly issue Bitcoin salaries and settles the outstanding balance in US dollars at the end of each month, in the same manner as standard vendor invoices, thereby eliminating the need to hold a Bitcoin wallet or reflect cryptocurrency on the balance sheet.
Lyle Pratt, founder and CEO of Vida, stated: "Vida has a global team, including members in Argentina, who prefer to be paid in Bitcoin due to the many challenges facing the local currency."
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