In a very unique yet thoughtful move that aims to retain talented and diverse staff, the crypto exchange giants Coinbase have been offering their employees fertility treatments such as egg freezing worth $5,000.
Although Coinbase had kept the employee perk quiet all summer long, the move is being praised for its generosity. The perk is hoped to help their female employees have a child later in life and is now part of the crypto exchange’s health insurance package.
Coinbase Joins Elite Company
The story was initially broken by CoinDesk, and talks about how this latest move from Coinbase to offer fertility treatments to their staff is putting the exchange in the same bracket as other elite companies such as Apple, Facebook, and Google who all offer their employees similar coverage.
A Coinbase employee who wanted to stay anonymous told the crypto news website that:
"It's definitely a luxury, which is why I feel fortunate that Coinbase and Carrot help make family planning more simple and affordable. It's frankly a relief not to have to worry about family planning on a day-to-day basis."
Keeping Talented Workers is Important
This is the first time that a crypto-related company has offered such comprehensive fertility treatments to their workers. Companies such as the crypto wallet startup MyCrypto offer their employees full maternity and paternity leave, but nothing quite on this level. Indeed, not many companies at all offer these kinds of treatments to staff in any industry.
In a relatively small sector such as the blockchain and crypto industry, headhunting can be rife. It is important that major crypto companies such as Coinbase retain their staff so they can remain competitive in the marketplace.
Coinbase’s Vice President, Nat McGrath also touch on the subject when recently talking to CoinDesk by saying:
"With possibilities for egg freezing, IVF [in vitro fertilization], fertility preservation, surrogacy, and more, our fertility benefits can serve a wide range of use cases for our diverse group of employees.”
This latest news from Coinbase comes at a time when the crypto exchnage has teamed up with Wiltshire Phoenix to launch a $500 million crypto fund.
Coinbase has not made any statement in regards to the number of employees that have used the fertility treatment options so far due to privacy reasons.