WeWork Partners with BitPay and Coinbase, Adds Cryptocurrencies to Balance Sheet
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April 20, 2021

WeWork, a commercial real estate startup, has announced it will start accepting cryptocurrency payments in select assets. According to a press release, the startup has entered into a partnership with BitPay and Coinbase. Moreover, the US-based exchange will be the first WeWork member to use cryptocurrency "to pay for its WeWork membership."

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With BitPay, WeWork will accept payments in bitcoin (EXANTE: Bitcoin), ether (ETH), USD coin (USDC), paxos (PAX), and several other cryptocurrencies. The real estate startup also announced it will hodl cryptocurrencies on its balance sheet. WeWork CEO, Sandeep Mathrani, said the decision to add support for cryptocurrencies was made in order to adapt to clients' needs.

"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.

In 2019, the startup gained a huge media attention after a failed IPO. The company was criticized for its governance, business model and ability to generate profit. Due to growing pressure from investors, WeWork's Founder, Adam Neumann, stepped down as CEO and relinquished his controlling stake in WeWork in September of that year.

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