UK flexible space provider WeWork has revealed it will begin accepting payment in select cryptocurrencies after entering a partnership with BitPay and Coinbase.
The partnership with BitPay and Coinbase will support allow users to use cryptocurrency for inbound and outbound transactions.
Through BitPay, WeWork will accept USD Coin, Bitcoin, Ethereum, Paxos as well as a range of other undisclosed cryptocurrency payment platforms. The company plans to hold the currency on its balance sheet and will pay landlords and third-party partners in cryptocurrencies where applicable through Coinbase.
WeWork noted Coinbase will be the first WeWork member to use cryptocurrency to pay for its WeWork membership, adding this decision ‘demonstrates the growing demand for flexible and easy-to-use payment options’.
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.
“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.”
WeWork chairman and Softbank Group International CEO Marcelo Claure added, “When we think about the workplace of the future and business, we have to consider cryptocurrency a central part of that conversation. Cryptocurrency helps build a stronger global economy and WeWork’s announcement demonstrates the company’s commitment not only to innovation, but also to being a globally-focused business.
“WeWork’s ability to provide members with an additional convenient means of payment is hugely exciting. I am very pleased that WeWork is taking steps to recognize the value this technology can provide our current and future members.”
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