WeWork to Accept Bitcoin, Ether, USDC, & PAX as Payment & HODL Them on Balance Sheet
WeWork 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 5.25% Bitcoin / USD BTCUSD $ 50,691.59
$2,661.315.25% Volume 60.27 b Change $2,661.31 Open $50,691.59 Circulating 18.71 m Market Cap 948.44 b 11 min Square CFO: “No Plans” to Buy More Bitcoin At This Time After Losing $20M Due to Price Drop 2 h Ether Flippining Bitcoin a Real Possibility But What’s the Caveat 2 h Samsung Updates Galaxy Smartphones With New Support for Crypto Hardware Wallets ETH 12.21% Ethereum / USD ETHUSD $ 4,120.40
$503.1012.21% Volume 52.44 b Change $503.10 Open $4,120.40 Circulating 115.87 m Market Cap 477.44 b 11 min Square CFO: “No Plans” to Buy More Bitcoin At This Time After Losing $20M Due to Price Drop 2 h Ether Flippining Bitcoin a Real Possibility But What’s the Caveat 2 h Samsung Updates Galaxy Smartphones With New Support for Crypto Hardware Wallets
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.”
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.