Labor SMART, Inc., a leader in providing on-demand blue collar staffing primarily in the southeastern United States, today announced the decision to accept Bitcoin and Ethereum as payment methods for its services.
As more institutions adopt cryptocurrency into their asset management strategies, the Company believes offering BTC and ETH as payment options will expand client flexibility.
Ryan Schadel, President and CEO of Labor Smart stated, “Every week, we generate invoices and send them to our clients. If we take a credit card payment for the invoice, we are paying up to 3% for merchant services. If we take a check as payment, we are waiting 4 or 5 weeks to be paid. If we borrow against the receivable for cash flow, we are paying 2 or 3%. By giving our clients the option to pay in Bitcoin or Ethereum, not only are we giving them more flexibility with how they manage their own cash flow, but we will save on processing fees.”
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Mr. Schadel continued, “Mainstream institutions are embracing crypto for its potential as a value store, payment method, and investment. As we continue to expand our business, we now have another valuable selling point. I believe crypto will be the preferred payment standard of the future and we are proud to be the very first in the staffing industry to accept crypto as payment.”
The Company expects the payment method to be live by mid-March via Coinbase.
On February 12, 2021, the Company disclosed its intentions to become current with otcmarkets.com.