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NYSE-Listed AI Company Taps Lightning Network to Pay Employees In Bitcoin
Publicly traded AI operating system Vida Global (NYSE American: VIDA) has said it has started paying employees in Bitcoin using the Lightning network — but in a way where the company does not have the leading crypto on its balance sheet.
The Austin, Texas-based company said Thursday that after a worker in Argentina asked to be paid in Bitcoin, the firm tapped Bitcoin infrastructure company Voltage to make the transaction.
But the company is not keeping Bitcoin on its books: it simply sends the cash amount via Voltage's platform, the employees receive payment in Bitcoin, and Vida's balance sheet remains in dollars.
"Vida has a global team, including team members in Argentina who prefer to be paid in Bitcoin because of challenges with their local currency," Vida CEO Lyle Pratt said.