WeWork teams up with Coinbase in crypto payments offering

American real estate company WeWork has made it to the ever-growing lists of businesses that have adopted the concept of offering cryptocurrency payment options.

This is now possible because the company has partnered with the newly minted public company Coinbase and BitPay.

With its partnership with Coinbase, WeWork will now have the ability to pay landlords and third-party partners in cryptocurrencies. Incidentally, Coinbase became one of the first companies to use digital currency as payment for its membership.

The partnership with Bitpay will enable WeWork to utilize its crypto payment services in the form of Bitcoin (BTC), Ethereum (ETH), USD Coin (USDC), and Paxos (PAX).

More than just the crypto payments

In addition to the latest business move, WeWork has also revealed that it now holds digital currencies on its balance sheet.

Company Chairman Marcelo Claure was quoted on Blockchain.news as saying, “When we think about the workplace of the future and business, we have to consider cryptocurrency a central part of that conversation.”

Claure added that cryptocurrency helps build a stronger global economy and “WeWork’s announcement demonstrates the company’s commitment not only to innovation, but also to being a globally-focused business.”

WeWork is also planning to merge with a special-purpose acquisition company known as BowX Acquisition Corp and get publicly listed in New York.

Coinbase listing wave

The direct listing of Coinbase in the Nasdaq was a very big step for mainstream adoption of the crypto sector.

The listing created ripples in the crypto industry, with Galaxy Digital CEO Mike Novogratz calling the move a “Netscape moment” for the cryptocurrency economy.

Because a crypto company is now publicly listed, investors will be able to gain indirect exposure to digital assets resulting in institutional money flooding into the crypto sphere.

 

Image courtesy of ColdFusion/YouTube

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