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LONDON - Valereum Plc (AQSE:VLRM) has implemented a crypto and multi-currency payroll solution developed by Fideum, one of its investee companies, according to a press release issued Thursday.
The payroll platform allows businesses to distribute payments to employees in their preferred combination of traditional currencies or cryptocurrencies. The system processes payments through a single source transaction from the employer while maintaining regulatory compliance across multiple jurisdictions.
Valereum stated the solution may provide employers with potential cost benefits through improved treasury management and reduced working capital cycles.
The technology has been designed with white-label capabilities, allowing other companies to adopt the system under their own branding. Valereum and Fideum plan to co-market the platform, utilizing Valereum’s El Salvador Digital Asset Service Provider license and Fideum’s network of Virtual Asset Service Provider and Money Services Business licenses.
"This initiative reinforces Valereum’s strategy of leading digital asset innovation and infrastructure," said Gary Cottle, Valereum Group CEO, in the press release.
Fideum CEO Anastasija Plotnikova added that the partnership aims to make "global payroll simpler for employers and more empowering for employees."
Fideum describes itself as a provider of institutional-grade digital asset infrastructure including custody, settlement, payments, and compliance services.
The announcement comes as more companies explore blockchain-based solutions for cross-border payments and financial operations.
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