Mode Global Holdings PLC Bitcoin payroll partnership with Lano (1503I)
April 12 2022 - 8:00AM
UK Regulatory
TIDMMODE
RNS Number : 1503I
Mode Global Holdings PLC
12 April 2022
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.
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END
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