NOWPayments Launches Solution to Enable Businesses to Pay Employees’ Salaries in Shiba Inu (SHIB).
The solution will further expand Shiba Inu’s utility and prove that the asset is no longer a memecoin.
NOWPayments, a non-custodial cryptocurrency gateway, has launched a new solution that will enable businesses to pay employees salaries in Shiba Inu (SHIB).
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— NOWPayments (@NOWPayments_io) July 25, 2022
Per a recent blog post, NOWPayments noted that businesses with SHIB enthusiasts among their employees could offer them the opportunity to receive their salaries in Shiba Inu tokens.
Notably, the crypto gateway platform now features a Mass Payments tool that can be adopted by businesses looking to pay interested employees salaries’ in the meme-based cryptocurrency.
Benefits of Using the Solution
NOWPayments noted that businesses adopting the solution would enjoy key benefits such as a simple payment process, quick transactions, privacy, transparency, accountability, and security.
Businesses using the solution will not have to endure the stress of adhering to the strict know-your-customer (KYC) rules. This method is mainly associated with traditional payment methods, which usually cause delays in payment processing.
“SHIB solves this issue by offering a fast payment method. Essentially, to send SHIB salaries, you will only need a SHIB crypto address. These addresses can be generated in a matter of seconds. Once you have your address and the required sum of SHIB in your wallet, you can pay the salary to your employee,” NOWPayments said in a statement.
Steps to Paying Employees in SHIB
The service has been simplified by NOWPayments, making it easier for any business to adopt.
Any business considering paying employees in Shiba Inu must first create a NOWPayments account. The business owner will be required to generate an API key and fill out the NOWPayments form for mass payout requests.
The admin of the account will need to activate the Mass Payment service by sending a request to the NOWPayments’ official email address firstname.lastname@example.org.
Once the service is active, the Business owner then has to deposit SHIB in the account and click “Create Mass Payout” from the balance section.
Additionally, the business will be required to upload the .csv file with the amount owner want every employee to receive, with the worker’s wallet address.
Once you click to proceed, the payment will be instantly sent to the employee.
The initiative expands the utility of Shiba Inu and would further support the narrative that the cryptocurrency is not a memecoin.