Recently, Binance revealed that the native token for the exchange – Binance Coin (BNB) is the means through which 90 per cent of their employees receive their salary every month.
Binance Coin (BNB) was released by the leading cryptocurrency exchange platform as an attempt to collect sufficient funds so that the operations and development of the exchange could be financed. From the profit generated by the business, Binance is now buying the Binance Coins (BNB) back from the hodlers following the successful run of BNB in the market. The CEO of Binance Changpeng Zhao recently told the founder of TechCrunch Micheal Arrington about the exchange’s new move at the Liechtenstein Cryptoassets Exchange (LCX)
Following it, Arrington tweeted, “Just one of the interesting things @cz_binance told me this week at LCX event: 90% of binance employees choose to receive their salary in BNB tokens. Smart people.”
— Michael Arrington (@arrington) August 18, 2018
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This disclosure by Arrington made Binance ace the list of the few commercial businesses that pay their employees in cryptocurrencies instead of the traditional cash. Binance has also become the beginners of the mainstream adoption by this news. Also, since the establishment of cryptocurrency mining Japan’s GMO Group has been offering a similar kind of payment to their employees. The company’ announcement in December 2017 that read,
“The GMO Internet Group will contribute to the development of virtual currencies in the world by promoting EFFORTS related to virtual currency throughout the group.”
Binance launched its Decentralized exchange along with some of the revolutionary projects to help the adoption of cryptocurrencies on a large scale. Moreover, many cryptoanalysts and enthusiasts have praised the employees who accepted their payments in the form of BNB.