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

Apr 20, 2021 at 3:01 p.m. UTC

Updated Sep 14, 2021 at 12:43 p.m. UTC

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

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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