WeWork, an office space provider today announced that it will start accepting cryptocurrencies as a form of payment from clients in association with Coinbase exchange and BitPay. The firm is looking to expand its economy by allowing inbound and outbound transactions in selected cryptocurrencies.
WeWork will accept Bitcoin (BTC), Ether(ETH), USD Coin (USDC), Paxos (PAX), and several other cryptocurrencies as payment for its offerings via BitPay. The firm would also hold cryptocurrencies on its balance sheet.
WeWork CEO, Sandeep Mathrani, said:
“WeWork’s strength is in our ability to evolve and best meet the diverse needs of our members around the world. As our member base continues to grow in the fintech sector, so will our ability to adapt to their needs and service a new economy. WeWork has always been at the forefront of innovative technologies, finding new ways to support our members. It only makes sense for us to expand on the optionality we provide by adding cryptocurrency as an accepted form of payment for our members.”
WeWork to Pay Landlords and Third-Party in Crypto
The office space provider who made the headline a couple of years ago for its multi-billion-dollar valuation has also revealed that it would pay the landlords from whom it leases the property for rent and other third parties in cryptocurrencies as well. The payment would be done in association with Coinbase Exchange. Coinbase will be the first WeWork member to use cryptocurrency to pay for its WeWork membership.
WeWork started back in 2010 has come a long way from its early startup days and jas become a global phenomenon for office spaces catering to small, large, and Fortune 500 companies. The office space provider has joined the growing league of Fortune 500 companies including Tesla that would hold crypto assets on its balance sheet as well as accept crypto as a form of payment.
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