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The company receiving the payment needs to convert the BTC to fiat if they want to pay their employees, infrastructure costs, etc. At a small scale, there are
by max51 4y ago
The company receiving the payment needs to convert the BTC to fiat if they want to pay their employees, infrastructure costs, etc.
At a small scale, there are a lot of options to go around it and also avoid KYC, but it's not really a viable solution for a company. They have to work with a bank or another payment processor to convert the crypto and/or manage whatever traditional currency the crypto is converted to. A few years ago, there was a wave of large company accepting crypto (eg. tesla), but most of them have backed down from it.
It's like accepting gold coins as a payment for your company. You can't pay your taxes or wages with those even if they have a stable value.