WeWork will accept Bitcoin for membership fees

Company will use the digital tokens to pay landlords when possible

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.”

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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