The leading flexible space provider WeWork accepts crypto as a form of payment. WeWork announced that it will begin servicing the new economy by now accepting payments in cryptocurrencies. WeWork will accept Bitcoin, Ethereum, USD Coin, Paxos, and various other cryptocurrencies as payment for its membership. It will use the crypto payment service platform BitPay to accept payments.
WeWork will also hold the currency on its balance sheet. The company will pay landlords and third partners in cryptocurrencies using Coinbase. Additionally, Coinbase will be the first WeWork member to utilize cryptocurrency to pay for its WeWork membership.
WeWork CEO Sandeep Mathrani said “Wework’s strength is in our ability to evolve and best meet the diverse requirements of our members around the world. Our members continue to grow in the fintech sector so our ability to adapt to their needs and services is a new economy. WeWork always had been at the forefront of innovative technologies’ finding new ways to support our members.”
Softbank Group International CEO, Marcelo Claure said “When we think about the workplace of the future and business, we have considered cryptocurrency a central part of the conversation. Cryptocurrency helps build a stronger global economy, and WeWork’s announcement demonstrates the company’s commitment not only to innovation but also to being a globally focused business.”
As per Bitpay CEO Stephen Pair, “WeWork is giving their customers an innovative payment option that is cost-effective and easier than credit cards and taps a community valued at over $2 trillion.”
WeWork planning to list in New York this year with a special purpose acquisition company (SPAC), merging with BOWX Acquisition Corp. Last week, Coinbase, the biggest US cryptocurrency exchange, started trading on the Nasdaq following a direct listing of shares.
Cryptocurrencies are becoming more popular as a form of payment. On Tuesday, we see Venmo also announced it would support cryptocurrencies. Few days before Elon Musk, Tesla announced it would accept bitcoin as payment for its cars.
