NYDIG Pens Deal With New York Yankees

The MLB team, New York Yankees, have agreed to a multi-year deal with New York-based investment firm NYDIG, to allow team members to convert a percentage of their salary into Bitcoin.

“We’re proud to partner with our hometown team and an iconic sports franchise, the Yankees, to further our mission of bringing bitcoin to all,” Kelly Brewster, chief marketing officer at NYDIG, said in a statement.

NYDIG is a Bitcoin-based subsidiary of Stone Ridge Holdings Group, an asset manager offering infrastructure solutions for companies seeking to work within cryptocurrency.

The firm touts a one-of-a-kind Bitcoin Savings Plan (BSP), that enables employees to exchange a certain amount of their salary for the leading cryptocurrency. The best aspect of the feature is that the employees will not pay any transaction fees.

“NYDIG is committed to helping our clients realize the full potential of Bitcoin while providing the service and standards that have made our name synonymous with trust,” added Brewster

The Yankees are not the first baseball organization to sign a deal with a cryptocurrency firm, their sister team The New York Mets has a deal with blockchain-based company Tezos. As well as the Washington Nationals who have a poorly timed deal with Terra Luna.

Sports and crypto go together better than most expected as countless organizations seem to be getting into the industry. With a franchise as storied as the Yankees getting involved, it shows how much the space has grown, and will continue to grow.