{"id":231241,"date":"2021-04-20T15:25:15","date_gmt":"2021-04-20T12:25:15","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/wework-to-accept-crypto-payments-and-hold-them-on-its-balance-sheet\/"},"modified":"2021-04-20T15:25:15","modified_gmt":"2021-04-20T12:25:15","slug":"wework-to-accept-crypto-payments-and-hold-them-on-its-balance-sheet","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/wework-to-accept-crypto-payments-and-hold-them-on-its-balance-sheet\/","title":{"rendered":"# WeWork to accept crypto payments and hold them on its balance sheet"},"content":{"rendered":"

“# WeWork to accept crypto payments and hold them on its balance sheet <\/strong>”
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Coworking space giant WeWork is the latest company to announce plans to hold cryptocurrencies on its balance sheet.<\/p>\n

The SoftBank-owned commercial real estate firm announced its plans via a statement<\/a>\u00a0on Tuesday. WeWork\u2019s crypto balance sheet will come from the company adopting cryptocurrencies as a payment method.<\/p>\n

According to the announcement, WeWork has partnered with crypto payment service platform BitPay to accept digital currency payments for its workspaces.<\/p>\n

WeWork will reportedly accept Bitcoin (BTC), Ether (ETH) and stablecoins USD Coin (USDC) and Paxos (PAX).<\/p>\n

The company\u2019s crypto adoption drive also includes paying landlords and other partners with cryptocurrencies as well via a partnership with United States-based exchange Coinbase.<\/p>\n

WeWork\u2019s announcement also revealed that Coinbase will become the first WeWork tenant to pay for its services with cryptocurrencies.<\/p>\n

For WeWork CEO Sandeep Mathrani, the decision to adopt crypto payments ties in with the company\u2019s increased patronage by fintech startups. \u201cIt only makes sense for us to expand on the optionality we provide by adding cryptocurrency as an accepted form of payment for our members,\u201d Mathrani added.<\/p>\n

SoftBank CEO and WeWork chairman Marcelo Claure echoed Mathrani\u2019s comments, adding:<\/p>\n

\u201cWhen we think about the workplace of the future and business, we have to consider cryptocurrency a central part of that conversation. Cryptocurrency helps build a stronger global economy, and WeWork\u2019s announcement demonstrates the company\u2019s commitment not only to innovation but also to being a globally focused business.\u201d<\/p><\/blockquote>\n

WeWork reportedly\u00a0lost<\/a>\u00a0$3.2 billion in 2020, as the coronavirus pandemic triggered a massive decline in occupancy rates. The losses posted in 2020 followed a $3.5-billion loss for 2019.<\/p>\n

Indeed, WeWork\u2019s losses for 2019 were projected to contribute a significant proportion of SoftBank\u2019s $12.5-billion loss as reported by Cointelegraph back in April 2020.<\/p>\n