Software heavyweight SAP pays employees in SHIB

  • SAP SE has included SHIB as a cryptocurrency option to pay employees. 
  • The software company will host five startup companies in its upcoming Foundry program.

German multinational software company SAP SE (NYSE: SAP) has recently partnered with BitPay as it prepares to pay staff in SHIB. Bitpay is a renowned blockchain payment technology that allows transactions in Bitcoin and other cryptocurrencies. It uses enterprise-grade tools to send and receive cryptocurrencies, providing an avenue where employees can receive a fraction of their salaries in crypto.

The payment platform disclosed its new partnership with SAP via Twitter. Bitpay will serve as a work partner to enable crypto payroll payments. Earlier this year, SAP mentioned BitPay as one of the startup participants in its Foundry New York Fall 2022 Program. Startup companies like Beem, Veremark, Gmetri, and Talespin will also participate in the program. A panel comprising financial experts, business partners, and esteemed customers chose these startup companies.

SAP SE adds SHIB as a cryptocurrency payment option

BitPay performs transactional activities involving Bitcoin and Ethereum on a larger scale than Dogecoin and Shiba Inu. However, the recent addition of SHIB to the SAP SE cryptocurrency list might spike the amount of SHIB transactions on the payment platform. Henceforth, several cryptocurrencies, including Shiba Inu, will serve as a payment method for SAP SE staff. 

Furthermore, the software company will educate these selected startup companies on various blockchain topics. These topics cover emerging technologies like blockchain, token economy, digital assets, artificial intelligence, and the metaverse. Also, participants will have access to mentorship from SAP executives, SAP technology, and their application programming interface (APIs). In addition to that, they can collaborate with SAP customers across the globe. 

The Foundry program will take place in New York in the Fall of 2022 for 12 weeks. It will feature Gmetri, a Web3 infrastructure company, talent development firm Talespin, and other participating startups. Since its inception, SAP SE has assisted over 450 external startups and internal ventures to ace their goals. 

According to Whale Alert, a crypto movement tracker, a whale has transferred over 3.38 trillion SHIB to an unknown account. Notably, the crypto asset is worth about $34.88 million. The transaction left the originating wallet with no token as the whale transferred all the tokens to the anonymous wallet.