WeWork to accept bitcoin and other cryptos for payment
WeWork has joined a growing list of companies integrating crypto payment options via payments provider BitPay. According to a press release, it will now allow its customers to pay for co-working spaces or fixed offices in crypto.
Crypto exchange Coinbase, which recently just went public on the Nasdaq, is set to be the first customer to pay for its WeWork membership.
WeWork will accept bitcoin, Ethereum, USDC, Paxos and a few other cryptocurrencies. Similar to Tesla, which recently announced it would accept bitcoin as payment for its products, WeWork is choosing to hold the crypto on its balance sheet rather than converting it to fiat at the point of sale.
“When we think about the workplace of the future and business, we have to consider cryptocurrency a central part of that conversation,” said WeWork chairman Marcelo Claure. The company also mentioned it would pay its landlord and third party partners using crypto, through Coinbase.