Tuesday, May 11, 2021

WeWork announces to accept payment in select cryptocurrencies.

The Takeaway:

WeWork, the leading flexible space provider, has announced that it will begin servicing a new economy by now accepting payment in select cryptocurrencies.

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WeWork, the leading flexible space provider, has announced that it will begin accepting payment in select cryptocurrencies. In partnership with BitPay and Coinbase, WeWork will expand its flexibility by utilizing cryptocurrency for inbound and outbound transactions. Through BitPay, a cryptocurrency payment service provider, WeWork will accept Bitcoin, Ethereum, USD Coin, Paxos, and several other cryptocurrencies as payment for its offerings. The mainstream adoption of bitcoin and other cryptocurrencies has accelerated this year. 

 

WeWork will also hold the currency on its balance sheet.

WeWork will also hold the currency on its balance sheet. The company will pay landlords and third-party partners in cryptocurrencies where applicable through Coinbase, a WeWork member and the largest U.S. cryptocurrency trading platform. According to the announcement, Coinbase will be the first WeWork member to use cryptocurrency to pay for its WeWork membership. WeWork was founded in 2010 with the vision to create environments where people and companies come together and do their best work. The firm has accelerated its focus on leveraging technology to take flexibility to the next level.

 

Crypto industry continues to gain mainstream exposure. 

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.” “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 added. As reported earlier, payment giant PayPal-owned Venmo announced that it would now allow users to buy and send bitcoin and other cryptocurrencies on its platform. Bitcoin has witnessed a massive winning rally this year, following an increased institutional interest in bitcoin and other cryptocurrencies. 

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Disclaimer: The article reflects the opinions of the author and is not representative of Chaintimes’ views.
The article does not offer any investment advice. User discretion is advised when investing in or trading with cryptocurrency. Extensive and diligent research should be carried out by the reader before making a decision.

Jai Pratap
Jai Pratap
A Mass Media Graduate who loves to write. Jai is also a sports enthusiast and a big movie buff. He loves to learn new things.

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