Seeking Alpha
2021-04-20 12:11:34

WeWork teams up with Coinbase, BitPay for cryptocurrency payment

WeWork (WE), in partnership with BitPay and Coinbase (COIN), will start using cryptocurrency for accepting and making payments.Through BitPay, a crypto payment service provider, WeWork will accept bitcoin, ethereum, USD Coin, Paxos, and several other cryptocurrencies as payment for its offerings.WeWork will also hold the cryptocurrency on its balance sheet.The company will pay landlords and third party partners in crypto where applicable through Coinbase, a WeWork member and the largest U.S. cryptocurrency trading platform.In addition, Coinbase will be the first WeWork member to use crypto to pay for its WeWork membership.The flex office space company joins the likes of Tesla in accepting crypto for payments. In March, Tesla said it would accept bitcoin as payment for its electric vehicles. Last month, PayPal launched its Checkout with Crypto feature, allowing users to pay for purchases with cryptocurrency.Bitcoin is trading down 0.8% this morning at ~$56.1K, below its peak of $64.9K but better than the weekend's

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