WeWork Added Crypto to List Of Viable Payment Methods And to Hold them On Its Balance Sheet

By Jenny Aurora | May 1, 2021

The heavyweight in the Coworking space sector – WeWork – has reportedly joined the list of firms keeping cryptocurrencies on its balance sheet.

Specifically, The SoftBank-owned commercial real estate entity reportedly disclosed details of its crypto balance sheet, which will stem from the company adding cryptocurrency to the list of viable payment measures. 

WeWork has reportedly forged an alliance with crypto payment service platform BitPay, to make virtual currency-enabled payments available throughout its workspaces.

The list of accepted crypto coins by WeWork reportedly includes Bitcoin (BTC), Ether (ETH), and stable coins USD Coin (USDC) and Paxos (PAX).

The firm’s crypto adoption drive further covers making payments to landlords and different cryptocurrency partners, together with forming an alliance with crypto exchange giant Coinbase from the US. 

WeWork additionally disclosed that Coinbase will reportedly be the first entity using WeWork’s facility to use crypto for finalizing payments. 

For Head of WeWork, Sandeep Mathrani, the choice for crypto adoption is reportedly in line with the firm’s rising patronage from fintech startups. 

“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,”

“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.” Head of SoftBank and WeWork chairman Marcelo Claure reportedly agrees with Mathrani’s remarks.

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