WeWork to Start Accepting Cryptocurrencies for Payments

WeWork, one of the leading flexible workspace providers in the world, is jumping on the cryptocurrency bandwagon.

• A new release shared by Reuters revealed that WeWork would begin accepting select cryptocurrencies for payments.
• In a detailed blog post, WeWork also revealed that it will work with BitPay to process payments and will accept Bitcoin, Ethereum, USDC, and Paxos.
• This comes shortly after Venmo – PayPal’s mobile payment service, enabled more than 70 million users to buy, sell, and store Bitcoin, Litecoin, Ethereum, and Bitcoin Cash through the application.
• It appears that giant companies are racing to capture the potential benefits of enabling crypto payments for their customers – a sign that the demand is increasing rapidly throughout the past years.
• Additionally, the leading US-based cryptocurrency exchange that recently went public, Coinbase, will be the first member that will use cryptocurrency to pay for its WeWork membership.

As a leader in the fintech sector, Coinbase’s decision to pay WeWork in cryptocurrency demonstrates the growing demand for flexible and easy-to-use payment options. – Reads the announcement.

• Speaking on the matter was Sandeep Mathrani, CEO at WeWork, who 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.”