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WeWork to Accept Bitcoin, Ether, USDC, & PAX as Payment & HODL Them on Balance Sheet
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PocketWeWork is the latest company to start accepting cryptocurrencies as a form of payment.
In partnership with payment processor BitPay and cryptocurrency exchange Coinbase, the office-sharing startup will be accepting selected cryptos — Bitcoin (BTC), Ethereum (ETH), USD Coin (USDC), Paxos (PAX) among several unnamed ones. BTC 0.29% Bitcoin / USD BTCUSD $ 28,982.97
$84.050.29% Volume 17.33 b Change $84.05 Open $28,982.97 Circulating 19.05 m Market Cap 552.19 b 4 mon SEC Commissioner says NFTs Might Fall Within Their Jurisdiction, Gensler Hires Senate Aid for Crypto Policy 4 mon A Possible Crypto Recovery Moving Into New Year, Risk-on Sentiments Send The Stock Market to Another Record High 4 mon Bitcoin and Ether Dump More Going Into Year-End, ETH Killers Showing Great Momentum ETH 0.29% Ethereum / USD ETHUSD $ 1,779.26
$5.160.29% Volume 11.52 b Change $5.16 Open $1,779.26 Circulating 120.96 m Market Cap 215.23 b 4 mon Coinbase Predicts Substantial Growth of Newer L1 Chains & Institutionalization of Regulated DeFi 4 mon A Possible Crypto Recovery Moving Into New Year, Risk-on Sentiments Send The Stock Market to Another Record High 4 mon The Sandbox Game Is Migrating to Ethereum Sidechain Polygon and Launching A DAO in 2022
Coinbase will also be the first WeWork member to use cryptocurrency to pay for its WeWork membership.
Sandeep Mathrani WeWork CEO“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.”
With this move, WeWork joins the likes of Tesla and Visa. Earlier in the day, PayPal-owned peer-to-peer payment service Venmo said it now allows its users to buy, hold and sell cryptos on its app.
Besides receiving payment in crypto, WeWork will also pay landlords and third-party partners in cryptocurrencies.
The company said it would also hold the crypto assets on its balance sheet in its official announcement.
Marcelo Claure WeWork Chairman and Softbank Group International CEO“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.”
SoftBank Group Corp. holds a majority stake in the company.
Late last month, WeWork had announced that it would go public through a merger with a blank-check firm (SPACs) in a deal that values the start-up at $9 billion.
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