How a Global PEO Can Help Support the Blockchain & Digital Currency Revolution

Global Expansion Is Proud To Be Your Ideal Global Partner

Introduction

The world as we know it today continues to become increasingly more connected, globalized, and internationalized. Businesses from all around the world are looking for prime opportunities for expansion. They are willing to take risks to exploit new markets and make their services or products known elsewhere in the world. Even in the wake of the COVID- 19 pandemic, it’s clear that businesses have their eyes set on expanding internationally. After all, with so much opportunity in new and emerging markets across nearly every continent, it would seem unwise for a business to completely rule out expanding internationally.

When it’s time to expand, it’s important to do it the right way. For many businesses, they go the route of formally incorporating in a foreign country or sending their domestic employees abroad for overseas assignments. And while those might seem like the “right way,” those actions often come with tremendous challenges and financial liabilities that might not be in your company’s best interest over the long haul.

Other companies recognize the benefits that a Global PEO like Global Expansion can offer them. They choose to work with true international business professionals who can make the transition overseas virtually seamless.

Today, the digital currency revolution is alive and well. In recent months, Bitcoin has surged to its highest value yet. The blockchain technology, upon which cryptocurrency transactions are built, has expanded, grown, and become much more mainstream across a variety of applications. Not only that, but companies are beginning to invest in cryptocurrency and blockchain technologies. They are developing new solutions and services to make these exciting developments more mainstream domestically and abroad.

With that in mind, it’s important to remember that the way to take advantage of this massive boom in cryptocurrency and blockchain technology is to hit the ground running — and that means quickly. In this eBook, we’re going to tell you all about how a global PEO works, and how a PEO like Global Expansion can provide support to any business that is looking to expand internationally. More specifically, we’ll get into the ways in which we can support you in your quest to offer cryptocurrency or blockchain services worldwide.

What Does the Industry Look Like?

The cryptocurrency market has officially exploded. Specifically, cryptocurrencies like Bitcoin and Ethereum have really taken off since the end of 2020. And now they’re poised to make even more gains soon. With this new surge in value, businesses around the world have begun to develop exciting new cryptocurrency products like eWallets, exchanges, and more, while others have adopted the technology upon which cryptocurrency is traded and exchanged — blockchain. Each of these new developments offer promising business benefits, so if you’re a business operating in this space thinking about international expansion, now is the time to act .

The Industry at a Glance

Even with the recent dip in Bitcoin value, there’s still tons of excitement and energy surrounding the digital currency market — and for good reason. For instance, Ethereum, the second most popular cryptocurrency that's only behind Bitcoin, is another digital currency that is building momentum. In fact, according to thisismoney.co.uk, “Ether, the coin which powers the Ethereum network, has soared almost sevenfold in the last 12 months and is now valued at north of $1,000.” With this news, it’s clear that it’s not as if the buzz is only surrounding Bitcoin — it’s all throughout the digital currency market. This excitement has brought on a slew of new investors, and it’s got a global market ready for the taking.

Digital currency is quickly becoming a global movement — happening all around the world and in nearly every single country in the world. Not only that, but it’s finally been given credence from real-world financial institutions. In fact, the cryptocurrency industry recently achieved a first when the Visa-backed cryptocurrency company, Anchorage, was granted the first federal bank charter from the Office of the Comptroller of Currency.

What Does This Mean and How Big of a Deal Is It Really?

Make no mistake, this is a very significant development.

Essentially, this federal bank charter provides a clear and open pathway for big banks to begin embracing cryptocurrency. Now, more traditional and conventional financial institutions can actually work with Anchorage to offer their customers a fast track to acquire cryptocurrency like Bitcoin and Ether. This development is sure to pave the way for the increased acceptance and adoption of cryptocurrency in the near future.

Not only does this have financial ramifications, but it’ll also have some security ramifications — and they’re good.

Blockchain, the technology upon which cryptocurrency transactions are conducted, is also receiving its own praise and notice for its ability to provide a secure, encrypted, and transparent process for conducting economic and financial transactions — at least in the digital currency sphere. In addition to that, blockchain has also shown promising aspirations for use in several applications outside of financial transactions and digital currency transactions.

The Boom Is Real

There is a clear boom of cryptocurrency and blockchain happening all around the world. Not only are coin prices continuing to surge, but with the recently granted federal charter to Anchorage, there will certainly be more positive news of growth and expansion on the horizon.

With that in mind, businesses looking to establish new holds on emerging marketplaces around the world will certainly want to consider expanding quickly and seamlessly.

Remember, not every market in every country has adopted to the boom in digital currencies just yet — this means there is plenty of opportunity for growth and expansion.

However, every business leader knows that expansion isn’t as easy as renting an office space halfway around the world, putting up a sign that says, “open for business,” and immediately begin turning a profit. It’s obviously much more difficult than that, and it’ll take the right moves and the right decisions to make your international expansion plans worthwhile.

In the next chapter, we’ll talk all about how a Global PEO like Global Expansion can work with you, to ensure that your business is fully prepared to take advantage of the boom in the digital currency and blockchain space, and successfully expand your operations to nearly any country in the world.

What Does a Global PEO Do?

The first step for any business looking to expand internationally is researching that specific market and performing due diligence on all the legal requirements and liabilities that international expansion entails.

In performing that research, you’ve likely come across the term, “Global PEO.” This chapter will explain exactly how a Global PEO can help any business expand internationally quickly, seamlessly, and without the stress of formally incorporating.

What Exactly Is a Global PEO?

Here at Global Expansion, we get asked this question a lot — and we’ve written volumes on it in various articles and eBooks. Here’s an excerpt from a previous eBook titled, “A Global PEO Company: The Secret Weapon for Businesses Looking to Expand Internationally.”

"A PEO is an entity that has the capability to provide employee management services, administrative assistance, and compliance strategies for multinational organizations, businesses, and institutions operating outside of their domestic jurisdictions. In other words, they provide virtually everything from talent acquisition, to payroll, to benefits, to employee rights protections and employee management for a fee — all while your HR team focuses on the core of your employee relations back at home.

Essentially, a PEO is a legal entity that stands as the Employer of Record for your multinational organization. This ultimately grants the entity the permission to hire, manage, and pay taxes for your organization within your new host country on your behalf, without the need for your HR or administrative staff back at home to get involved and bogged down with foreign bureaucracy.”

What Happens When You Work with a Global PEO?

Working with a Global PEO makes your transition from a domestic business to a multinational business virtually seamless. As your Employer of Record, you’ll never have to worry about international payroll, shadow payroll, tax liabilities in a foreign country, formally incorporating in another country, etc.

At Global Expansion, we handle all the above on your behalf. We’ll hire employees on your behalf — and they’ll be your workers, under your leadership. The only difference is that they’ll be on our payroll, ultimately saving your financial team time, money, and energy.

There are many additional benefits of working with a Global PEO. Aside from the benefits already listed above, working with a PEO will ensure that filing taxes remains just the same as always — you won’t have to worry about separating revenue and income, nor will you be forced to deal with a variety of tax laws from different countries. And searching for tax credits? That’s just not necessary. Remember, tax law becomes a lot more complicated when you expand your business into a foreign country. And when you’re dealing with a quickly expanding and growing digital currency market, you really don’t have much time — if any at all — to lose.

It’s imperative that you hit the ground running because if you don’t, there will surely be another company ready to take hold on that market segment you’ve had your sights set on.

How to Choose a Global PEO for Your Expansion?

Choosing a Global PEO is a big decision because this relationship will serve as your partner throughout your international expansion endeavors — or at least until you make the move to formally incorporate or exit the market entirely.

Global Expansion is one of the most trusted Global PEOs operating in the international business world today.

Not only do we have a proven track record of successfully working with multinational businesses to help them tap into new markets, but we’ve also got an extensive network that spans multiple continents.

When it comes to your decision to embrace new market opportunities in the digital currency and blockchain space, Global Expansion is well versed on the challenges that you’ll face, and we’ve got the solutions that you need to make the right decisions.

The Challenges at Hand

Remember, the digital currency and blockchain market is growing more and more competitive by the day. That’s why it’s so important that you choose the right Global PEO to assist you in your international expansion plans.

In the next chapter, we’ll cover some of the challenges you might face in the digital currency and blockchain industry as you look to expand. From there, we’ll show you exactly how a Global PEO can provide you with solutions to these challenges.

The Challenges of Blockchain & Crypto Companies

In the previous chapter, we spoke at length about the different ways in which a Global PEO can support multinational businesses looking to expand overseas. We broke down the fundamental aspects and services that a Global PEO embraces and offers, and we talked about the benefits that come along in working with a Global PEO. In this chapter, we’re going to return to the major point of discussion — blockchain and digital currencies.

If you work for or own a blockchain/cryptocurrency company, then international expansion is likely on your radar. As we mentioned before, there are numerous challenges that accompany expansion endeavors, so it’s important to understand just how a Global PEO like Global Expansion can work with you to provide solutions to those challenges.

Doing Business Overseas Can Be Challenging if You’re New to It

One of the biggest challenges any business faces when first expanding internationally is the fact that you’re doing business overseas for the very first time. Think about it — managing a business in your home country comes with its complications, so it makes sense that when you move to expand to a foreign country, things become a bit more complex and volatile. This is especially true when you’re dealing with a market that is still new, emerging, and even unregulated in some areas.

As a Global PEO, we essentially negate the need for you to formally establish your business as a legal entity in any foreign country. Instead, we serve as your Employer of Record, hiring employees on your behalf, and ensuring that all the payroll, benefits, and tax liabilities fall on our shoulders — not yours. This helps you get your operations up and running faster and with less downside.

You Can Test the Waters Before You Dive In

If any business owner told you that they were 100% confident in their transition or operations overseas, they’d be lying. Any type of business expansion will include assuming some risk — even more so if you’re expanding internationally. While there are a few things you can do to mitigate risk, nothing will ever take all the risk away completely.

However, working with a Global PEO gives you the unique chance to test the waters before you dive in. When you’re dealing with an emerging industry and market like blockchain and cryptocurrency, having this level of flexibility is an advantage. Essentially, you have a built-in exit strategy when you work with a Global PEO. If the market just doesn’t take off the way you’d hoped, you can simply exit the market seamlessly without having to worry about financial and tax obligations.

Blockchain & Global Payroll

It’s critically important to remember that global payroll can be a complicated map to navigate. From tax liabilities to shadow payrolls, there are myriad headaches that multinational businesses must deal with. But when you work with a Global PEO like Global Expansion, we not only take that burden off your shoulders, but we also utilize blockchain to ensure that the payroll process is safe, secure, and encrypted at all costs.

Now Is the Time

You’re certainly familiar with the old phrase, “you have to strike while the iron is hot!” Well, the iron is red-hot, and it’s time to strike. If you’re looking to expand internationally within the blockchain and cryptocurrency sphere, there truly has never been a better time. Get in early, make the right moves, have a good strategy, and work with a Global PEO to get things running smoothly right off the bat.

Conclusion

Thank you for reading this eBook, and we hope that you’re able to make the right choice. At Global Expansion, we’ve spent years building out our expertise and reputation as one of the most trusted Global PEOs operating in the world today. Our capabilities are top-notch, and our network is vast. We’re always standing at the ready to take on new clients, and to work with exciting and engaging businesses that are looking to make the most out of emerging industries, market developments, and innovative technologies.

Partnering with a PEO is your one-way ticket to a successful international expansion project, and we’ll be happy to prove it to you. If you’re interested in learning more about how a PEO can help your multinational company succeed, then it’s time for us to talk.

Be sure to visit our website to learn more about our services and what we have to offer. For any questions, reach out to us directly and speak with one of our team members. We’d be more than happy to provide you with more information, and learn more about what you have in mind for your international business expansion plans.

We look forward to hearing from you soon.