WeWork to accept cryptocurrency payments

Flexible office space provider WeWork will now accept payments in cryptocurrencies, including bitcoin, ethereum, USD coin, paxos, and “several others”.

WeWork will accept payments via BitPay, an Atlanta-based cryptocurrency payment service provider founded in 2011.

In addition, WeWork said it will pay landlords and third-party partners in cryptocurrencies where applicable via Coinbase, the largest US cryptocurrency trading platform by trading volume.

Coinbase recently listed on the Nasdaq at a blockbuster valuation of almost $100 billion, the largest for a cryptocurrency company ever.

The trading platform will be the first WeWork member to use cryptocurrency to pay for its WeWork membership.

The move will also see WeWork hold some cryptocurrency on its balance sheet.

The news comes after WeWork announced in March that it is set to go public via a merger with BowX Acquisition Corp in a special purpose acquisition (SPAC) deal, at a valuation of $9 billion.

“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 and Softbank Group International chief executive Marcelo Claure. “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.”

He added: “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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