WeWork enables Bitcoin and Ethereum payments, to hold cryptos in its balance sheet
News

WeWork enables Bitcoin and Ethereum payments, to hold cryptos in its balance sheet

Saudu Clement
Saudu Clement

WeWork, an American real estate company providing shared workspaces for startups, has announced that it will start accepting cryptocurrency payments from its customers.

The co-working giant revealed in an official post that it was expanding its payment flexibility to include digital assets for both inbound and outbound transactions. For a start, the list of supported cryptocurrencies includes Bitcoin, Ethereum, two stablecoins (USD Coin and Paxos), and several other digital assets.

The initiative is made possible through a partnership with BitPay (a cryptocurrency payment service provider) and Coinbase. Moving forward, landlords and third-party partners will be able to receive payments in Bitcoin or any of the supported cryptocurrencies through Coinbase.

Meanwhile, crypto exchange Coinbase is the first WeWork member to use the new payment offering.

WeWork’s CEO Sandeep Mathran asserted that his company was expanding to meet the needs of clients in the fintech sector. He explained:

WeWork’s strength is in our ability to evolve and best meet the diverse needs of our members around the world. As our member base continues to grow in the fintech sector, so will our ability to adapt to their needs and service a new economy. WeWork has always been at the forefront of innovative technologies, finding new ways to support our members.

Apart from accepting digital assets as a form of payment, WeWork disclosed that it would also hold cryptocurrencies on its balance sheet.