As per the latest reports, another company has announced that is interested to adopt cryptocurrencies. WeWork, which is one of the Coworking giants, has announced that it intends to add cryptocurrencies to its balance sheets like many mainstream giants.
WeWork is a commercial real estate firm that is owned by Softbank, which is a multinational company from Japan responsible for holding many conglomerates.
The officials of WeWork made the announcement around the adoption of cryptocurrencies on Tuesday, April 20, 2021. The firm has announced it will be adopting cryptocurrencies in the form of crypto payments. This means that the companies using the services from WeWork would be able to pay it using cryptocurrencies.
WeWork has also confirmed that in order to make it possible for the company to accept payments in cryptocurrencies, it has brought BitPay on board that would help it achieve its goal.
BitPay, which is one of the most prominent cryptocurrency payment facilitators in the United States has officially partnered with WeWork to build up a platform for the company.
Using the new platform, the companies utilizing WeWork’s workspaces would be able to pay the company in the form of different cryptocurrencies.
The company has announced at the time of writing, it will be accepting four different cryptocurrencies. The names of these cryptocurrencies are Paxos (PAX), USD Coin (USDC), Ether (ETH), and Bitcoin (BTC).
According to WeWork, they are currently planning to stick with the four digital assets and observe how things progress. If they see that the demand for cryptocurrencies is rising and more companies using its services are paying in crypto, they will add more cryptocurrencies to the list.
The company has clarified that for now, they do not have any other cryptocurrencies that would want to adopt and offer their clients for making payments.
The teams at WeWork have confirmed that they have more stuff in mind about the adoption of cryptocurrencies. They do not want to limit the utility of cryptocurrencies for paying for the utilization of space. They also aim to make this service available for the payment of rents to the property owners and for the acquisition of other services.
Apart from partnering with BitPay, WeWork has also partnered with one of the largest cryptocurrencies in the United States as well as the entire world, Coinbase.
Sandeep Mathrani, the CEO at WeWork stated that the adoption of cryptocurrencies at the company was overdue since the end of 2020. Ever since PayPal adopted cryptocurrencies such as Bitcoin (BTC) and altcoins, they have seen huge demand for crypto-payment methods on their platform as well.
However, the firm had to go through all the possibilities of losses, gains, and feasibility before it could go ahead and launch the service. Now that the situation looks more favorable, the company is excited it has adopted the cryptocurrency method while it is in the middle of being adopted by the entire world.