WeWork Accepts Cryptocurrency Payments

Reading Time: 2 minutes
  • WeWork has announced a tie in with BitPay and Coinbase which will allow users to pay in crypto
  • The workspace solutions company will accept a number of cryptocurrencies and hold them on their balance sheet
  • WeWork follows AXA Insurance in allowing customers to pay in crypto

WeWork, the flexible workspace provider, has announced that it will accept cryptocurrencies as payment for its services. Through a tie in with BitPay and Coinbase, the company will accept Bitcoin and a number of other cryptocurrencies in a further sign that digital assets are gaining adoption, with WeWork Chairman Marcelo Claure adding that cryptocurrency “helps build a stronger global economy”.

WeWork Will Hold Crypto on Its Balance Sheet

WeWork made the announcement via a press release where they stated support for Bitcoin, Ethereum, USDC, Paxos and “several other cryptocurrencies” as payment for its offerings. Interestingly, WeWork adds that it will “hold the currency on its balance sheet”, suggesting that it will genuinely accept the cryptocurrency rather than BitPay or Coinbase swapping it for cash prior to the transaction and that WeWork themselves will hold the cryptocurrency for potential further appreciation.

WeWork CEO, Sandeep Mathrani, said of the deal that the deal was another indication of the company’s forward thinking approach:

WeWork has always been at the forefront of innovative technologies, finding new ways to support our members. 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.

Everyday Crypto Use Getting Easier

WeWork has followed hot on the heels of insurance giant AXA who last week announced that they would be allowing customers to pay their insurance premiums in bitcoin due to customer demand. Week by week it is getting easier to carry out everyday tasks using cryptocurrencies, something that just a couple of years ago was much harder to do.