A software development services provider from Reston, Virginia, by the name of Sequoia Holdings, is offering its staff one really cool new option – to store some of their salaries by investing it into crypto.
Sequoia Holdings (not to be confused with Sequoia Capital) aims to provide engineering and analytic solutions to the US’s national security sector. This includes several departments, such as the Intelligence one, Defense, or Homeland.
It is also important to note that it’s an employee-owned company. This means that this whole idea may be a reflection of popularity among its staff members.
The employees can choose to have a percentage of their salary invested in Bitcoin, Bitcoin Cash, or Ether.
The company hasn’t mentioned how much of the salary can be deferred. It also hasn’t mentioned the third-party payroll processing firm that will be in charge of withholding taxes or converting the money into crypto. The third-party payroll processor is also responsible for the digital wallet in which crypto savings will be held.
T. Richard Stroup Jr., co-founder and CEO of Sequoia Holdings: