TL;DR Breakdown
- WeWork is now accepting Bitcoin payments for its services.
- The company also plans to pay its partners in cryptocurrency through Coinbase.
WeWork, a leading office sharing services provider, now accepts payments in Bitcoin and other select digital currencies for its services, according to a Wednesday report by Evening Standard. The company partnered with crypto payment processor BitPay to accept crypto payments from the customers.
WeWork joins the crypto bandwagon
As reported, the company now accepts payments in Bitcoin, Ethereum, USD Coin, Paxos, and other coins for their office sharing services. In addition to accepting crypto payments, WeWork plans to pay its third-party partners and landlords in cryptocurrency through the leading US crypto exchange, Coinbase.
While commenting on the new payment option on WeWork, the chairman of the company, Marcelo Claure, said the company’s “ability to provide members with an additional convenient means of payment is hugely exciting.”
The development today comes amid the growing interest and adoption of digital currencies as a payment option across businesses and companies worldwide. WeWork now adds to the list of companies that support Bitcoin and crypto payments. According to the report, Coinbase will be the first entity to pay for its WeWork membership using cryptocurrencies.
Meanwhile, the office sharing giant is preparing to go public via a Spac.
Companies accepting crypto payments
Since 2021, several companies have rolled out support for crypto payments, especially after Elon Musk’s electric car company, Tesla, enabled the option for users to pay for electric cars in Bitcoin. Cryptopolitan also reported that Morningside School of Music in Edinburgh, Scotland, planned to accept Bitcoin payments for music classes.
As recently as the 15th of April, a leading Switzerland-based all-lines insurer AXA announced it is accepting crypto payments for its services.
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