AI Firm Pays Staff in Bitcoin — Without Holding Any Crypto

Vida Global now pays some workers in Bitcoin via the Lightning network, but keeps its books entirely in U.S. dollars.

A public company just found a clever way to pay workers in Bitcoin — without ever owning any Bitcoin itself.

Vida Global, an Austin, Texas-based artificial intelligence company listed on the NYSE American (a U.S. stock exchange where company shares are bought and sold), has started paying some employees in Bitcoin. But here's the twist: the company never keeps Bitcoin on its books.

It all started when a team member in Argentina asked to be paid in Bitcoin. Many people in Argentina prefer Bitcoin because their local currency, the peso, has struggled with high inflation (when money loses value over time and prices rise fast). So Vida turned to a company called Voltage, which specializes in Bitcoin payment technology.

Here's how the system works:

Vida sends a normal cash amount in U.S. dollars
Voltage's platform converts and delivers the payment to workers in Bitcoin
Vida settles the total in dollars at month's end, just like paying any regular supplier
Vida's balance sheet (a financial record showing what a company owns and owes) stays entirely in dollars

This means the company gives employees what they want without dealing with the complicated accounting that comes with holding cryptocurrency.

The payments run on something called the Lightning network. Think of it as a fast express lane built on top of Bitcoin's main system. It makes transactions cheaper and faster — originally designed so people could use Bitcoin for everyday spending, like buying coffee.

"Their team members get paid in seconds in the money they actually want, and their finance team never touches crypto," said Voltage CEO Graham Krizek. Vida CEO Lyle Pratt added that the setup meets employee needs "without adding crypto complexity to accounting."

The bottom line: This shows a growing trend where global companies can offer Bitcoin payments to workers who want them, while keeping their own finances simple and dollar-based. Big names like Jack Dorsey, co-founder of Twitter, have already built Lightning into apps like Cash App.

This is an AI-generated summary. Read the original article at: https://bitcoinmagazine.com/news/ai-company-pays-employees-in-bitcoin