Commercial real estate company WeWork now accepts bitcoin and other cryptocurrencies for payments

WeWork, the office-sharing giant with 60 sites in London, has now announced the acceptance of Bitcoin and other cryptocurrencies as a legitimate form of payment for its service.

WeWork will start accepting payments in select cryptocurrencies, the first being Bitcoin

As far as the press release was shared, WeWork said it has partnered with BitPay to ensure a smooth checkout process. Furthermore, in addition to Bitcoin, WeWork will also accept Ethereum, two stablecoins USDC, and PAX for payment.

Coinbase, the cryptocurrency trading platform, will be the first WeWork member to pay for its membership using cryptocurrency. However, it is not clear what cryptocurrencies Coinbase will pay with. WeWork will also pay homeowners and third-party partners with cryptocurrency through Coinbase.

The company, which is planning to list in New York through a Spac, a company set up for the one special purpose of buying, or investing in, another business, has hundreds of sites and typically membership is for private office space or per desk space.

WeWork CEO Sandeep Mathrani said:

“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.”

Covid-19 has driven the need for flexible workspaces between large and small organizations – something WeWork is positioned to serve on a global basis. Since 2019, the company has made significant progress in transforming its business through a strategic plan that includes the elimination of out-of-industry business operations and other measures that contribute to Significantly improve the cost structure.

You can see the BTC price here.

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