WeWork Now Accepts Payments In Bitcoin — And Will Hold The Crypto On Its Balance Sheet

WeWork and Coinbase Join Forces to Bring Bitcoin, Ethereum to Coworking Spaces

WeWork becomes the latest company to begin accepting cryptocurrency for payments. The SoftBank-backed real estate giant announced on Tuesday that it will allow its customers to pay for fixed offices and co-working spaces in crypto via tie-up with cryptocurrency payment processor BitPay.

WeWork’s Crypto Adoption

WeWork will accept bitcoin (BTC), Ethereum (ETH), USD Coin (USDC), Paxos (PAX), and other cryptocurrencies as a form of payment for its services. Similar to electric vehicle maker Tesla which recently announced that it would be accepting bitcoin payments, WeWork is choosing to hold the cryptocurrency on its balance sheet instead of instantly converting it to fiat money.

San Francisco-based crypto exchange Coinbase will be the first WeWork customer to pay for its membership with crypto. Additionally, WeWork has partnered with the exchange to make crypto payments to landlords and other partners possible.

SoftBank CEO and WeWork Chairman Marcelo Claure said in a press release:

“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.”

Institutions Are Accepting Bitcoin

WeWork joins Tesla, Time Magazine, Caruso, and others in adding crypto as a payment option and investment vehicle. Multiple other firms including Jack Dorsey’s Square and MicroStrategy have also added bitcoin to their balance sheets. Multi-trillion-dollar asset manager BlackRock also started dabbling in crypto in February and accrued over $350,000 from a tiny long on BTC futures.

According to Bitcointreasuries.org, over 40 publicly listed companies are now holding approximately 1.4 billion BTC on their balance sheets. This amount represents roughly 6.5% of the total bitcoin supply and is equivalent to $78 billion.

Institutions’ newfound interest in crypto suggests that most of them fear being left behind as bitcoin sees a dizzying rally and increased adoption from famed corporates and moguls.

Share:

Share on facebook
Facebook
Share on twitter
Twitter
Share on pinterest
Pinterest
Share on linkedin
LinkedIn

Follow Us

Most Popular

Get The Latest Updates

Subscribe To Our Weekly Newsletter

No spam, notifications only about new products, updates.
On Key

Related Posts

New Strategic Partner for CheersLand: Medabots

Cheerlands has made an announcement about its partnership with Medabots, which is one of the best GameFi projects across the world. So it is the new strategic partner, and both of them will be working together in terms of cross-marketing, staking, working with tournament organizations, and competitions to grow each other’s projects in various ways.

FTX Ventures to Support Development of Product Categories

The segment of technology services is going through a phase of comprehensive transformation. Many competitive players are entering into the segment, and as a result, all stakeholders, including customers and investors, are getting access to new-age services and technology products. The organization is now gearing to make the future of the ongoing web3 Revolution even

Sphynx Labs Is Looking Forward to Integrating with Chainlink

Sphynx Labs, called the decentralized exchange, is officially integrating three different decentralized services, Chainlink, the leading network of Oracle, in a decentralized manner. Sphynx is working towards the enhancement of functions in its platform by- Using Chainlink VRF to verify that its drawing games are provably fair. Working with Chainlink Keepers to provide additional stop-loss

SundaeSwap and the ISO to Go LIVE on Thursday

The long-awaited moment has arrived! The information about the launch of  SundaeSwap DEX is presented in an easy-to-understand format below. Important Dates and Points to Remember: SundaeSwap will go live as a completely operational beta decentralized exchange on 20 January Thursday. The 1st round of ISO prizes will be determined on 25 January Tuesday. To