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WeWork Accepting Crypto as Form of Payment
The office-sharing provider will hold the cryptocurrency on its balance sheet and pay landlords and third-party partners in crypto.
Updated Sep 14, 2021, 12:43 p.m. Published Apr 20, 2021, 3:01 p.m.
Office-sharing provider WeWork said Tuesday it is accepting some kinds of cryptocurrency as a form of payment.
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- In its announcement, WeWork said Coinbase (NASDAQ: COIN) will be its first member company to use cryptocurrency as payment for its membership.
- WeWork said it will also hold the currency on its balance sheet and pay landlords and third-party partners in cryptocurrencies using Coinbase.
- The office space providing firm said it is accepting bitcoin (BTC), ethereum , USD coin (USDC), paxos standard (PAX) and several other cryptocurrencies as a form of payment through BitPay.
- “WeWork is giving their customers an innovative payment option that is cheaper and easier than credit cards and taps a community valued at over $2 trillion,” said BitPay CEO Stephen Pair.
- WeWork is planning to list in New York later this year through a special-purpose acquisition company (SPAC), merging with BowX Acquisition Corp, according to a Wall Street Journal report.
- Last week, Coinbase, the biggest U.S. cryptocurrency exchange, started trading on the Nasdaq following a direct listing of shares.
Read more: Coinbase CEO Sold $291.8M in Shares on Opening Day
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