Last checked at 12 Apr 2022 13:00
Mode announces Bitcoin payroll partnership with Lano
- Deal with the payroll and employment platform allows workers to choose to receive part of their salary in Bitcoin
- Partnership is the third payroll deal in six months for FCA-registered crypto firm
Mode Global Holdings PLC (LSE:MODE), the LSE-listed Fintech Group, is today announcing it is entering into a partnership with the global payroll platform Lano, which will enable the firm's clients to pay their UK employees a portion of their salary in Bitcoin.
Lano's platform for global teams enables businesses worldwide to hire, manage and pay talent from across the globe, reducing the complexity of global employment and payroll in more than 150 countries.
Mode's crypto payroll offering allows UK-based salary recipients to put a portion of their income into Bitcoin on a regular basis, offering greater access to the world's most popular digital asset. This agreement follows on from similar partnerships with PayEscape and Heroes in the past six months.
Recently, demand across employers and employees for more flexible working arrangements has increased, and the workplace must also keep on evolving. Receiving a portion of salary in Bitcoin is just one of the ways tech-native employees can work in tandem with forward-thinking employers to reimagine the way they earn, diversify, save, and spend.
As a London Stock Exchange Main Market listed and FCA-registered firm, Mode is able to offer Bitcoin payroll partners complete peace of mind. Due to Mode's listing and regulatory position, employees who opt-in to receive part of their salary in Bitcoin get their tokens delivered securely in their Mode Wallet, with confidence that they are involved with an FCA-registered business and the hallmarks of credibility that denotes.
Commenting on the partnership, Rita Liu, Chief Executive Officer at Mode, said: "The #PayMeInBitcoin movement has been accelerating in recent months, with adopters ranging from NBA players to hairdressers. In the post-pandemic world of increasingly digital workplaces, options such as being paid in Bitcoin can enable forward-thinking firms to attract and retain the best talent. Our payroll offering helps innovative firms respond to the way their workforce wants to evolve the workplace and we are seeing demand for options around crypto capabilities increase."
Aurel Albrecht, CEO and Co-Founder of Lano, said: "We are delighted to be working with Mode, giving our UK clients the option of receiving a portion of their salary in Bitcoin. We believe our tech-enabled clients recognise that workers demand flexibility, as well as innovative salary options that continue to evolve and improve their payroll experience-and it's the perfect way to deliver that capability to a new and evolving workforce. At Lano, we are always looking for innovative payroll partnerships. Mode shares our vision to make financial services fit for the future; it is a pleasure working with their team."
ENDS
Press contacts:
Julie Sand, Mode
+44 (0)7582 830 676
julie.sand@modeapp.com
Milo Larkin, MRM
020 3326 9926 / 07471 351 584
mode@mrm-london.com
Notes to Editors
About Mode:
Mode is an LSE-listed fintech company on a mission to build the world's most disruptive ecosystem where exchanging value and growing wealth is seamless for all. Mode is leveraging the power of Bitcoin and Open Banking to deliver on this mission and offer customers in the UK a one-stop app to shop, earn and grow their Bitcoin, all in one place. For businesses, Mode provides a cheaper, safer and smarter alternative to card payments that rewards shoppers with Bitcoin Cashback.
To learn more, visit our customer/business site at www.modeapp.com or our investor site at www.modeplc.com.