Revolut Is WeWork’s First Enterprise Member to Pay for Office Space in Bitcoin
The digital bank is using BTC to pay for a 300-worker office in Dallas, its largest in the U.S.
Sep 16, 2021 at 4:47 p.m. UTC:format(webp)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/RVNGOVLWNZCWBC2CMPUBPAL5EM.jpg)
A pedestrian walks past the entrance to the We Work co-working office space, operated by the parent company We Co., on Eastcheap in London, U.K., on Monday, Oct. 7, 2019. While WeWork has been rapidly expanding in Canada, the New York-based company is facing challenges on multiple fronts with Landlords in London and New York the most exposed to any further deterioration at the co-working firm. Photographer: Bryn Colton/Bloomberg via Getty Images
Tanzeel Akhtar is a reporter based in London,UK.
Office-sharing giant WeWork said that U.K.-based digital bank Revolut has become its first enterprise member to pay for office space using cryptocurrency.
- WeWork said Revolut will use bitcoin to pay for its 300-employee office space at a WeWork site in Dallas, its largest office in the U.S.
- The office space provider first began accepting cryptocurrency as payment in April, with Coinbase (NASDAQ: COIN) paying for its membership with crypto. WeWork said it accepts bitcoin, ether, USDC and several other cryptos as payment through BitPay.
- Revolut offers money transfer services, including the ability to buy, sell and hold several cryptocurrencies within its app. The firm has more than 16 million customers around the world.
- In July, Revolut was valued at $33 billion in a funding round led by SoftBank and Tiger Global Management.
- “We’re excited to continue on our rapid growth trajectory with an innovative partner like WeWork that affords us the flexibility to pay using cryptocurrency – a technology whose future we vehemently believe in – as Revolut expands in the U.S. and around the world,” said Rhebeckha D’Silva, Revolut’s global head of real estate.
Read more: WeWork Accepting Crypto as Form of Payment
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