Tag: Wework

WeWork Will Begin Accepting Crypto Payments amid Partnership with Coinbase

by Blockchain News

WeWork figures among the companies that have welcomed cryptocurrency payments with open arms. Partnering up with Coinbase and BitPay, WeWork will begin offering cryptocurrency payments as an option.

Through its partnership with Coinbase, the company will be able to pay landlords and third-party partners in cryptocurrencies. Coinbase also figures among the first WeWork member to use cryptocurrency to pay for its WeWork membership.

In regards to WeWork’s partnership with BitPay, crypto payments in the form of Bitcoin (BTC), Ethereum (ETH), USD Coin (USDC), and Paxos (PAX) will be made available thanks to BitPay’s crypto payment services.

In addition to enabling cryptocurrency payments, WeWork also announced that it now holds cryptocurrencies on its balance sheet. WeWork Chairman Marcelo Claure spoke about the company’s willingness to integrate cryptocurrencies for inbound and outbound transactions. He said:

“When we think about the workplace of the future and business, we have to consider cryptocurrency a central part of that conversation. 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.”

On top of enabling cryptocurrency payments, WeWork is planning to publicly list in New York later this year by merging with a special-purpose acquisition company (SPAC) dubbed BowX Acquisition Corp.

Coinbase listing

Many have come to realize that cryptocurrencies are here to stay. Digital assets are slowly entering mainstream adoption, beginning with Coinbase’s listing last week that generated waves across the crypto industry. Coinbase’s direct listing on Nasdaq is a huge step for the crypto sector, as the crypto exchange figures among the first within its industry to bring its company public.

Coinbase’s listing was acclaimed by Galaxy Digital CEO Mike Novogratz, who called it a “Netscape moment for the cryptocurrency economy.” With a crypto company now publicly listed, investors will be able to gain indirect exposure to digital assets through Coinbase. Novogratz predicted that institutional money will soon come “flooding” into the crypto sphere, and it certainly seems as though this may become an eventuality in the near future.

Recently, PayPal-owned Venmo payments company announced that it will enable users to buy, pay, and sell cryptocurrencies through its platform. The move to integrate cryptocurrencies into its business is strategic and goes in line with the rise in popularity of cryptocurrencies. Venmo’s acceptance of crypto payments mirrors decisions taken by institutional giants PayPal, Pornhub, and Tesla, who have all integrated crypto payments into their business model in some form or another, in line with the current rise in digital innovation.

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WeWork To Accept And Transact With Bitcoin

by Bitcoin Magazine

WeWork, a flexible shared workspace provider, has announced that it will integrate bitcoin transactions and hold BTC on its balance sheet through a partnership with cryptocurrency exchange and custody provider Coinbase as well as bitcoin payments processor BitPay.

Coinbase also has the distinction of being the first WeWork client to pay its fees in cryptocurrency, per the announcement.

“Through BitPay … WeWork will accept bitcoin (BTC) … and several other cryptocurrencies as payment for its offerings,” according to the announcement. “WeWork will also hold the currency on its balance sheet. The company will pay landlords and third party partners in cryptocurrencies where applicable through Coinbase.”

The announcement did not clarify exactly which “currency” would be held on WeWork’s balance sheet, but it’s clear that similar institutions see bitcoin as the best treasury asset.

WeWork has a $9 billion public listing planned, and this foray into cryptocurrency is likely seen as a boost to its value by its stakeholders.

“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,” WeWork’s CEO, Sandeep Mathrani, said in the announcement.

This view was corroborated by WeWork chairman and CEO of Softbank Group International, Marcelo Claure:

“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,” Claure said in the announcement.

WeWork, a New York-based company founded in 2010, appears to be joining the likes of Tesla as a major company to not only hold bitcoin on its balance sheet, but also accept payment in the leading cryptocurrency asset. 

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WeWork to Add Bitcoin to Its Balance Sheet

by Cryptobriefing

Key Takeaways

  • WeWork has announced a complete crypto adoption from accepting, paying and holding crypto on its balance sheet.

  • The workspace start-up recently revealed their plans to go public via direct listing.

  • Coinbase and BitPay will help the company with payment processing and crypto custody.




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Leading American co-working space WeWork has partnered with Coinbase and Bitpay to accept payment in Bitcoin and other cryptocurrencies. 

WeWork Adds Bitcoin, Crypto Payments

WeWork will accept Bitcoin, Ether, two stablecoin payments in USDC and PAX, and several other cryptocurrencies as membership payments for their shared workspaces. 

The firm will not only accept crypto payments but also hold Bitcoin on its balance sheet and even pay their creditors—landlords and third-party partners—in crypto, wherever possible. 

WeWork has partnered with BitPay, a crypto payment service provider, to accept payments. Coinbase, one of WeWork’s customers, will be the first company to pay them in crypto. The NASDAQ-listed exchange will also assist WeWork in outbound payments of crypto. 


The company has joined Tesla, TIME, Caruso in accepting Bitcoin payments and holding the crypto on its balance sheet.

WeWork CEO, Sandeep Mathrani, noted in an e-mail shared with Crypto Briefing:

“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.”

In August 2019, the company filed its initial public offering (IPO) with a market valuation between $15 to $20 billion. However, soon things went south for the firm, after its CEO and founder Adam Neumann was ousted from the firm.


Later, Softbank acquired the company after its valuation fell in half.

After significant changes in its leadership in the last two years, the firm has now taken an alternate route to go public. It will obtain a direct listing on NASDAQ through a special purpose acquisition company (SPAC) merger at the initial valuation of $9 billion.

The company plans to complete the merger and listing process by September this year.

WeWork is hopeful of reviving its “flexible space” model in the post-pandemic economy, where companies could continue to offer work from positions to cut down on operational costs.

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WeWork to accept crypto payments and hold them on its balance sheet

by Cointelegraph

Coworking space giant WeWork is the latest company to announce plans to hold cryptocurrencies on its balance sheet.

The SoftBank-owned commercial real estate firm announced its plans via a statement on Tuesday. WeWork’s crypto balance sheet will come from the company adopting cryptocurrencies as a payment method.

According to the announcement, WeWork has partnered with crypto payment service platform BitPay to accept digital currency payments for its workspaces.

WeWork will reportedly accept Bitcoin (BTC), Ether (ETH) and stablecoins USD Coin (USDC) and Paxos (PAX).

The company’s crypto adoption drive also includes paying landlords and other partners with cryptocurrencies as well via a partnership with United States-based exchange Coinbase.

WeWork’s announcement also revealed that Coinbase will become the first WeWork tenant to pay for its services with cryptocurrencies.

For WeWork CEO Sandeep Mathrani, the decision to adopt crypto payments ties in with the company’s increased patronage by fintech startups. “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,” Mathrani added.

SoftBank CEO and WeWork chairman Marcelo Claure echoed Mathrani’s comments, adding:

“When we think about the workplace of the future and business, we have to consider cryptocurrency a central part of that conversation. 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 reportedly lost $3.2 billion in 2020, as the coronavirus pandemic triggered a massive decline in occupancy rates. The losses posted in 2020 followed a $3.5-billion loss for 2019.

Indeed, WeWork’s losses for 2019 were projected to contribute a significant proportion of SoftBank’s $12.5-billion loss as reported by Cointelegraph back in April 2020.