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Powerhouse platform will drastically increase entry and availability for all workers and GIG staff to unlock the facility of cryptocurrency funds
BRENTWOOD, Tenn., March 28, 2022 /PRNewswire/ — Cornerstone Global Management, Inc. (www.cornerstoneglobalmgt.com), a fintech firm that transforms payroll into Bitcoin, Litecoin, Ethereum or stablecoins by its pay conversion platform, Hedge (www.gethedge.io) introduced right now its acquisition of Paydrop (www.paydrop.com) through money and inventory swap. Paydrop gives an array of monetary and fee providers for small companies, single member enterprises and freelance staff.
Litecoin Founder Charlie Lee helped provoke the acquisition and partnership between Cornerstone and Paydrop.
Paydrop’s senior management staff will be part of Cornerstone, integrating thrilling new options into the already dynamic platform. Paydrop’s distinctive expertise may also assist Cornerstone exponentially scale because it prepares for vital development within the coming quarters.
Cornerstone’s conversion engine, Hedge, empowers employers and workers to seamlessly convert a customizable portion of their payroll compensation into crypto and securely deposit it into the wallets of their selecting. By buying Paydrop, Cornerstone will present payroll conversion providers for any unbiased contractor, GIG financial system employee, and non-traditional revenue incomes worker inside the USA.
The brand new Hedge platform is employer-agnostic. Organizations with hundreds of workers can supply Hedge as an employee-benefit, whereas self-employed freelancers can profit from Hedge’s intuitive platform simply as simply.
Compensation is paid from employer to worker in government-backed foreign money so neither aspect incurs a separate taxable occasion on the authentic level of compensation. Each company and self-employed Hedgers recognize that Hedge is absolutely compliant with state and federal legal guidelines and is one hundred pc free to corporations to make use of as an extra approach through which to pay their workers.
This merger will maker Hedge a full service fee platform and permit Hedgers to maneuver past payroll to ship and obtain blended funds in fiat and/or crypto for all transactions.
Litecoin Founder, Crypto Large and Cornerstone Founding Advisor Charlie Lee helped provoke the acquisition and partnership between Cornerstone and Paydrop. In response to Lee, the partnership between these two platforms is a wedding made in heaven. “Realizing the providers and groups behind each Hedge and Paydrop, recommending the 2 work nearer collectively appeared pure,” stated Mr. Lee. “Cornerstone buying Paydrop is a brilliant transfer for each events and can open up much more alternatives as soon as Paydrop is linked to Hedge’s pay conversion engine.”
“Buying Paydrop simply appeared like a no brainer for each events and can open up much more alternatives as soon as Paydrop is linked to Hedge’s pay conversion engine.” stated Hedge founder David Schwartz. “Hedge is a handy, frictionless approach for nearly anybody to affix the motion for financial freedom.”
“The mixture of Hedge’s conversion of W-2 and different revenue together with Paydrop’s 1099 fee functionality will deliver larger help to anybody who needs to be paid in Bitcoin, Litecoin, crypto, or stablecoins,” stated Paydrop’s former CEO Steven McClurg, who will now additionally function key Cornerstone advisor and board member. “We’re excited for what’s to return, and I look ahead to working with previous and new associates as a director of Cornerstone.”
Cryptocurrency is among the most dynamic sectors on this planet, with a worldwide market cap of over $1.7 trillion and development projected as excessive as $30 trillion by 2027. With the current Paydrop acquisition, Cornerstone is now poised to be a serious participant within the crypto funds business, as extra folks than ever are in search of a secure, handy strategy to enter the digital asset class.
“Cornerstone is a sport changer,” stated Economist Larry Hunter, a PhD with over 30 years of expertise advising firms and Washington coverage makers. “Crypto as revenue shall be a stabilizing pressure within the crypto financial system. The mixture of Hedge and Paydrop lowers the barrier of entry into the crypto markets and empowers the person to develop a diversified crypto portfolio.”
Hedge as an revenue conversion platform is on the market now! events can join and begin benefiting from greenback value averaging into cryptocurrencies right now at gethedge.io. Till Paydrop and Hedge combine, Paydrop will proceed to function in beta format. You may paydrop.com to enroll and be taught extra!
View authentic content material:https://www.prnewswire.com/news-releases/cornerstone-global-management-inc-acquires-paydrop-in-historic-merger-of-workplace-focused-cryptocurrency-platforms-301509605.html
SOURCE Cornerstone International Administration, Inc.; Paydrop
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