Immensus Group, a Dutch Domino’s franchise starts paying salaries in BTC

By: Jinia Shawdagor
Jinia Shawdagor
Jinia is a cryptocurrency and blockchain enthusiast based in Sweden. She loves everything positive, travelling, and extracting joy and… read more.
on May 24, 2021
  • Immensus Group tied with Dutch crypto broker BTC Direct to offer the BTC salary option.
  • The BTC salary option will only be available to staff whose salaries exceed the minimum wage.
  • Reportedly, the BTC salary option seeks to offer Immensus staff a chance to own crypto.

Immensus Group, the largest Domino’s franchise in the Netherlands, has introduced a crypto salary option for its staff. A report unveiled this news on May 22 (Bitcoin Pizza day), noting that this move will see the company pay its employees part of their salaries in BTC. Explaining why it could not pay salaries fully in BTC, the company said Dutch laws direct employers to pay employees the minimum wage in euros.

Immensus Group operates 16 Domino’s pizza stores in the country. The company has more than 1,000 internal and external employees, who can choose what fraction of their salary they wish to receive in BTC. However, this option is only open to employees whose salaries exceed the minimum wage.

Are you looking for fast-news, hot-tips and market analysis? Sign-up for the Invezz newsletter, today.

Explaining the decision to integrate BTC as a salary payment option, the company said it seeks to motivate its young staff to get acquainted with the financial world.

The firm’s co-owner, Jonathan Gurevich, added,

We work with a lot of young employees. We hear them talking about bitcoin and we want to offer the opportunity to own cryptocurrency.

Pushing for the mainstream adoption of BTC

Reportedly, Immensus Group joined hands with BTC Direct, a Holland-based crypto broker. BTC Direct’s role in this partnership will be converting euros into BTC on behalf of Immensus staff. Per Gurevich, this partnership will let BTC Direct convert amounts ranging from €5 (£4.32) to €250 (£216.04) into BTC for the eligible employees monthly.

BTC Direct has been paying salaries in BTC for the past three years. According to the firm’s Marketing Manager, Toom Schraven, the company has 80 employees at the moment, and almost everyone accepts BTC. By forging the path for companies seeking to embrace BTC payments, the company seeks to push for the mass adoption of the leading cryptocurrency by capitalization.

Apart from the partnership with Immensus Group, BTC Direct revealed that is working to integrate the BTC salary option in other firms. Per Schraven, the company is in the process of completing related deals with several major salary infrastructure companies. However, he kept a tight lip, regarding the names of the companies, seeing as the deals are yet to be finalized.

This news comes as BTC/USD tries to recover its weekend losses, which saw it plunge to $31,227.34 (£22,109.74). At the time of writing, BTC is changing hands at $37,622.06 (£26574,34) after gaining 17.48% over the past 24 hours.

Invest in crypto, stocks, ETFs & more in minutes with our preferred broker, eToro
10/10
67% of retail CFD accounts lose money