France's Umalis Group to allow billing in bitcoins
15/12/2017 17:27
Dec 15 (Reuters) - Consultants at Umalis Group MLUMG.PA ,
an umbrella company for freelancers, will be able to choose to
bill clients in bitcoins from January, the French firm said on
Friday.
Umalis Group's announcement follows the decision of Japan's
GMO Internet 9449.T to start paying up to 100,000 yen ($888)
monthly to its employees in bitcoins from February 2018.
While payment in bitcoins may appeal to employees looking to
cash in on its enormous increase in value -- more than 1,700
percent since the start of the year -- warnings have grown that
the bitcoin bubble may soon burst leaving investors out of
pocket. urn:newsml:reuters.com:*:nL8N1OF2WH
However, since the launch of bitcoin futures from CBOE
Global Markets, trading in the cryptocurrency has calmed from
the violent price swings seen in recent weeks.
"The inauguration on Monday 11 December 2017 of the first
bitcoin futures contract ... was a crucial factor in our
decision," Umalis Chief Executive Christian Person said in a
statement.
Umalis Group provides services whereby freelancers seek out
and negotiate contracts before allowing the umbrella company to
take care of administrative formalities, to 200 consultants, all
of whom will be able to bill in bitcoins.
Umalis Group said it would provide security for its
consultants by stipulating that if the price of the bitcoin
invoice for the consultant's services is lower than the price
initially agreed in euros, the invoice must be paid in euros.
GMO Internet will offer payment in bitcoin to around 4,000
employees.
($1 = 112.6500 yen)
(Reporting by Alan Charlish, editing by David Evans)
((alan.charlish@thomsonreuters.com; +48 58 772 1582;))
Keywords: MARKETS BITCOIN/UMALIS GROUP