The flexible space provider WeWork is the newest name for entry into the cryptocurrency sector
US-based commercial real estate company WeWork has confirmed its entry into Crypto after it announced it would add Crypto to its balance sheets. The company also announced partnerships with NASDAQ-listed Coinbase and BTC payment service provider BitPay. The cooperation will help to simplify crypto transactions.
“Via BitPay, a cryptocurrency payment service provider, WeWork accepts Bitcoin (BTC), Ethereum (ETH), USD coins (USDC), Paxos (PAX) and several other cryptocurrencies as payment for its offers. WeWork will also keep the currency on its balance sheet, ”Business Wire said reported.
BitPay CEO Stephen Pair welcomed the partnership in a statement, stating that the provider intends to transform the way individuals and companies conduct transactions. Pair added that crypto was the future, describing the development as an “innovative payment option” that will make things easier for the WeWork community.
WeWork stated that Coinbase would be the first member company to process payments in crypto. The global coworking company recognized the increasing need for better and easier payment methods and cited this as the reason for the move. It is now joining several other companies from various industries that have already included crypto in their books. Tesla and MicroStrategy are some of the big names that have achieved this before.
In addition, the company will process payments to connected third parties using crypto and Coinbase, if necessary.
Sandeep Mathrani, Chief Executive, said of the decision to enter the crypto sector that it was in line with the company’s goal of partnering with other fintech companies.
“As our membership base in FinTech continues to grow, so will our ability to adapt to their needs and serve a new economy.” he said. “WeWork has always been at the forefront of innovative technology and has found new ways to support our members. It only makes sense for us to expand the options we offer by adding cryptocurrency as an accepted payment method for our members. “
Several companies have been retired in the past for failing to adapt to the changing times. The office sharing and rental company’s decision to adopt crypto will no doubt help keep it relevant during this period.