WeWork will accept Bitcoin for membership fees

Company will use the digital tokens to pay landlords when possible

National /
Apr.April 20, 2021 03:12 PM
WeWork CEO Sandeep Mathrani. (Getty, WeWork)

WeWork CEO Sandeep Mathrani. (Getty, WeWork)

WeWork will begin to accept cryptocurrency, including Bitcoin and Ethereum, as a form of payment for its workspaces.

The company announced Tuesday that customers can use the currency to pay for memberships; it will then use the cryptocurrency to pay its landlords and other vendors whenever possible, the Commercial Observer reported.

“WeWork has always been at the forefront of innovative technologies, finding new ways to support our members,” CEO Sandeep Mathrani said in a statement to the publication. “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.”

Unsurprisingly, the cryptocurrency exchange platform Coinbase will be the first WeWork member to use that method of payment. WeWork will process the funds using the platform BitPay.

In recent weeks, several other real estate companies have announced a newfound acceptance of cryptocurrency. Rick Caruso’s eponymous real estate firm announced that it will begin accepting rent payments in Bitcoin across its retail and commercial properties.

Real estate investor Kent Swig recently secured $6 billion in gold reserves to back his new cryptocurrency, DIGau.

[CO] — Sasha Jones





    Related Articles

    arrow_forward_ios
    Wendy Silverstein (Credit: Getty Images)
    Wendy Silverstein, co-head of WeWork’s real-estate fund, is out
    Wendy Silverstein, co-head of WeWork’s real-estate fund, is out
    WeWork CEO Adam Neumann (Credit: Getty Images and iStock)
    WeWork’s side businesses are fizzling
    WeWork’s side businesses are fizzling
    Sarah Pontius (Credit: Union College)
    Another head rolls at WeWork
    Another head rolls at WeWork
    National chains and mom-and-pop stores are seeing increasing sales per square foot and shrinking occupancy costs (Getty)
    National chains paid 93% of rent in April
    National chains paid 93% of rent in April
    (RIPCO, iStock)
    Target, Five Below, Smashburger open in new Brooklyn shopping center
    Target, Five Below, Smashburger open in new Brooklyn shopping center
    Close to 80 hotels with more than 13,000 rooms plan to open in 2021. (iStock)
    Big year seen for hotel openings, despite few visitors
    Big year seen for hotel openings, despite few visitors
    Savanna’s Christopher Schlank and Nicholas Bienstock with a rendering of 141 Willoughby Street (Savanna; SLCE Architects; Fogarty Finger Architects)
    Savanna nabs $264M loan for Downtown Brooklyn office project
    Savanna nabs $264M loan for Downtown Brooklyn office project
    Blackstone president Jon Gray and the Blackstone headquarters at 345 Park Avenue in NYC (Getty, Google Maps)
    Blackstone sets office return for some vaccinated staffers
    Blackstone sets office return for some vaccinated staffers
    arrow_forward_ios

    The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

    Loading...