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WeWork Accepting Crypto as Form of Payment

The office-sharing provider will hold the cryptocurrency on its balance sheet and pay landlords and third-party partners in crypto.

By Tanzeel Akhtar

Updated Sep 14, 2021, 12:43 p.m. Published Apr 20, 2021, 3:01 p.m.

Office-sharing provider WeWork said Tuesday it is accepting some kinds of cryptocurrency as a form of payment.

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In its announcement, WeWork said Coinbase (NASDAQ: COIN) will be its first member company to use cryptocurrency as payment for its membership.
WeWork said it will also hold the currency on its balance sheet and pay landlords and third-party partners in cryptocurrencies using Coinbase.
The office space providing firm said it is accepting bitcoin (BTC), ethereum (ETH), USD coin (USDC), paxos standard (PAX) and several other cryptocurrencies as a form of payment through BitPay.
“WeWork is giving their customers an innovative payment option that is cheaper and easier than credit cards and taps a community valued at over $2 trillion,” said BitPay CEO Stephen Pair.
WeWork is planning to list in New York later this year through a special-purpose acquisition company (SPAC), merging with BowX Acquisition Corp, according to a Wall Street Journal report.
Last week, Coinbase, the biggest U.S. cryptocurrency exchange, started trading on the Nasdaq following a direct listing of shares.

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Tanzeel Akhtar

Tanzeel Akhtar has contributed to The Wall Street Journal, BBC, Bloomberg, CNBC, Forbes Africa, Financial Times, The Street, Citywire, Investing.com, Euromoney, Yahoo! Finance, Benzinga, Kitco News, African Business Magazine, Hedge Week, Campden Family Office, Modern Investor, Spear's Wealth Management Magazine, Global Investor, ETF.com, ETF Stream, CIO UK, Funds Global Asia, Portfolio Institutional, Interactive Investor, Bitcoin Magazine, CryptoNews.com, Bitcoin.com, The Local, The Next Web, Mining Journal, Money Marketing, Marketing Week and more. Tanzeel trained as a foreign correspondent at the University of Helsinki, Finland and newspaper journalist at the University of Central Lancashire, UK. She holds a BA (Honours) in English Literature from the Manchester Metropolitan University, UK and completed a semester abroad as an ERASMUS student at the National and Kapodistrian University of Athens, Greece. She is NCTJ Qualified - Media Law, Public Administration and passed the Shorthand 100WPM with distinction. She does not currently hold value in any digital currencies or projects.