Developers for Bank of New York Mellon Corp have been experimenting with bitcoin for use as part of the bank’s newly created corporate recognition program, according to The Wall Street Journal.
The so-called “BK Coins” will be awarded to staff for contributions to the bank’s software development, and can be redeemed for gift cards and other rewards.
The initiative was announced by BNY Mellon CIO Suresh Kumar during a meeting last week at the bank’s innovation center. Kumar noted at the time that the bitcoin testing fits within BNY Mellon’s broader goals of exploring open-source software for the bank’s growing needs.
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