Coinbase to Become the First Company to Pay WeWork in Cryptocurrency 16

Coinbase to Become the First Company to Pay WeWork in Cryptocurrency

  • WeWork has announced it will begin accepting crypto payments 
  • The move is in partnership with BitPay and Coinbase
  • BitPAy will handle the payments with WeWork accepting Bitcoin, Etheruem, USD Coin (USDC) and Paxos (PAX)
  • WeWork will hold the crypto paid for services on its balance sheet
  • Coinbase will become the first company to pay WeWork in crypto

The flexible working space company of WeWork has just announced that it will begin accepting payments using select cryptocurrencies. The move by the company is in partnership with BitPay and Coinbase as WeWork embraces the flexibility of using cryptocurrencies for inbound and outbound transactions.

BitPay to Serve as a Payment Processor with WeWork Holding Crypto

Furthermore, BitPay will serve as the crypto payment service provider for WeWork. The latter company will accept Bitcoin (BTC), Ethereum (ETH), USD Coin (USDC), Paxos (PAX) and several other digital assets as payment options.WeWork also intends to hold digital assets paid for its services, on its balance sheet.

The CEO of BitPay, Stephen Pair, further highlighted the significance of WeWork accepting digital payments to further crypto adoption. Mr. Pair had this to say about the milestone.

BitPay believes crypto is the future of fintech and payments and our goal is to transform how businesses and people send, receive, and store money. 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.

Coinbase to Become the First Company to Pay WeWork in Crypto

Additionally, WeWork will pay landlords and third-party partners in digital assets with Coinbase handling the transactions where possible. Coinbase will also become the first WeWork member to use cryptocurrencies to pay for its membership.

Coinbase recently made headlines by becoming the first digital asset exchange to go public. The company is a global leader in the fintech industry and the decision to pay WeWork in crypto will set the pace for other customers of WeWork to do so.