Crypto Payroll Provider Cornerstone Acquires Paydrop

Cornerstone Global Management, Inc., a fintech company that transforms payroll into Bitcoin, Litecoin, Ethereum or stablecoins through its pay conversion platform, Hedge announced today its acquisition of Paydrop via cash and stock swap. Paydrop provides an array of financial and payment services for small businesses, single member enterprises and freelance workers.

Paydrop's senior leadership team will join Cornerstone, integrating exciting new features into the already dynamic platform. Paydrop's exceptional talent will also help Cornerstone exponentially scale as it prepares for significant growth in the coming quarters.

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Cornerstone's conversion engine, Hedge, empowers employers and employees to seamlessly convert a customizable portion of their payroll compensation into crypto and securely deposit it into the wallets of their choosing. By acquiring Paydrop, Cornerstone will provide payroll conversion services for any independent contractor, GIG economy worker, and non-traditional income earning employee within the United States.

This merger will maker Hedge a full service payment platform and allow Hedgers to move beyond payroll to send and receive blended payments in fiat and/or crypto for all transactions.

Litecoin Founder, Crypto Giant and Cornerstone Founding Advisor Charlie Lee helped initiate the acquisition and partnership between Cornerstone and Paydrop.

With the recent Paydrop acquisition, Cornerstone is now poised to be a major player in the crypto payments industry, as more people than ever are looking for a safe, convenient way to enter the digital asset class.

(Source: PR Newswire)