SoftBank-backed office-sharing startup WeWork has revealed its latest decision to start accepting bitcoin and other selected cryptocurrencies as payment for services.
In partnership with BitPay, a cryptocurrency payment service provider, WeWork will also accept cryptocurrencies like BTC, ETH, and stablecoins USDC and PAX for payments for its services.
Coinbase will become WeWork’s first client to pay for its membership in cryptocurrency. The space provider startup also added that it will pay landlords and third-party partners who opt for the bitcoin option, in cryptocurrencies, through Coinbase.
WeWork is a New York-based commercial real estate company that was founded in 2010 by Adam Neumann and Miguel McKelvey. It specializes in the provision of flexible shared workspaces for technology startups and services for other enterprises.
Taking charge of such projects, the flexible space provider creates designs and also constructs both physical and virtual shared spaces and office services for firms and companies. The company is planning a $9 billion listing in New York through Spac, a company that buys and invests in other businesses.
Speaking on WeWork’s latest decision, CEO Sandeep Mathrani said: “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.”
He continued, “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.”
Marcelo Claure, the chairman of WeWork and boss of Softbank Group International, WeWork’s largest shareholder also commented, “WeWork’s ability to provide members with an additional convenient means of payment is hugely exciting.”
Still on crypto adoption as a payment method, Time Magazine recently announced that it is now accepting cryptocurrency payments from clients.
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Author: Abigail Michelle