On July 14, 2022, Stone Ridge subsidiary NYDIG announced that the firm entered into a multi-year deal with Major League Baseball (MLB) team New York Yankees. According to the partnership announcement, NYDIG will be the “official bitcoin payroll platform” for the professional baseball team.
NYDIG inks a multi-year partnership agreement with MLB’s New York Yankees
The company has entered into a multi-year partnership with American baseball team the New York Yankees, according to an announcement by bitcoin firm NYDIG on Thursday. NYDIG says the deal will give Yankees employees access to the company’s bitcoin savings plan (BSP).
NYDIG’s BSP product will give members of the Yankees organization the ability to convert a fraction of their payroll checks into bitcoin (BTC). Employees can access this benefit through the NYDIG platform and there are no transaction or storage fees associated with the BSP product. The NYDIG says that “dozens of leading companies” are already taking advantage of NYDIG’s BSP service benefits.
Aryan Sobo, Yankees’ vice president of human resources, employment and labor law, elaborated that the baseball club is “always looking for innovative ways to expand and improve our employee experience.” The move comes at a time when young employees are choosing to take a part of their salary in BTC. NYDIG research indicates that 36% of employees under the age of 30 are interested in receiving this type of pay. Sobo further commented that “NYDIG has made it easy to add bitcoin to our roster of benefits.”
Yankees Vice President of Human Resources said:
We look forward to leveraging the NYDIG platform to provide this opportunity to our employees.
Company’s ‘Savings Plan Could Be One of the Most Efficient Ways to Save Bitcoin’, Says NYDIG Executive
NYDIG’s deal with the New York Yankees is not the first time the company has partnered with a sports franchise. In mid-November 2021, NYDIG partnered with the Houston Rockets, a team from the National Basketball Association (NBA). A few weeks before the deal with Rockets, the bitcoin-focused fintech firm revealed that it was collaborating with MVB Bank to provide white label bitcoin solutions to third parties. On Thursday, NYDIG Chief Marketing Officer Kelly Brewster said the company looks forward to collaborating with the American baseball team.
“We are proud to partner with our hometown team and an iconic sports franchise, the Yankees, to further our mission of bringing bitcoin to everyone,” Brewster said in a statement. “NYDIG is committed to helping our customers realize the full potential of bitcoin while providing the service and standards that have made our name synonymous with trust. For employees at the Yankees and beyond, the bitcoin savings plan The opportunity to allocate a smaller slice of your paycheck in the U.S. could be one of the most efficient ways to save bitcoin, and remove obstacles in the way to dollar-cost averaging, the NYDIG executive said.
What do you think of NYDIG’s involvement with the American baseball team New York Yankees? Tell us your thoughts about this topic in the comment section below.
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