Cryptocurrencies as the generic mode of Payment to be accepted by WeWork

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The firm has already partnered alongside US-based BitPay as well as CoinBase for boosting up their overall presence within the digitalized Assets.

The Firm stated on Tuesday that, the office sharing start-up WeWork will accept choicest cryptocurrencies for payments. The Firm Co-founded by the Adam Neuman as well as backed from SoftBank and the NewYork backed WeWork, it will strive to accept the Digitalized currencies as payment mode for both outbound as well as in-bound transactions. Partnering alongside the crypto payment service provider BitPay as well as CoinBase, that operates Cryptocurrency Exchange Podium will definitely prove beneficial.

The firm also stated within a statement that: “WeWork will accept Bitcoin, Ethereum, USD Coin, Paxos as well as numerous other cryptocurrencies” via the BitPay as payment for their offerings.”

The firm stated out that “WeWork will also hold the currency on the balance sheet. The firm will pay landlords as well as the third-party partners in cryptocurrencies where applicable via the Coinbase.”

The firm’s Chief Executive Sandeep Mathrani stated that: “WeWork has always been at the forefront of innovative technologies, finding new ways to support our members.”

He further also added out that “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.”

Coinbase will be the initial WeWork member to utilize cryptocurrencies to pay for their membership.

The Chief Executive for BitPay, Stephen Pair stated out that: “WeWork is giving their customers an innovative payment option that is cheaper and easier than credit cards and taps a community valued at over $2 trillion.”

With the confidence and the popularity of Bitcoin, and the value upsurge, the mainstream firms are wholeheartedly accepting the Cryptocurrency as the payment mode. Even during the preceding month, the global biggest Electric Vehicle manufacturer firm Tesla has commenced accepting Bitcoin, the largest Cryptocurrency, as the payment mode for its cars.

Clients requiring to pay utilizing the Bitcoin initial transfer their digital assets from their wallets to a third-party cryptocurrency payment processor. It would then adapt the digital asset into a fiat currency, such as dollars or dirhams, and allocation of the final amount to the beneficiary’s account. Currently, telecom company AT&T and technology major Microsoft accept Bitcoin via a third-party payment service provider such as BitPay.

FinTech firm the PayPal is also contributing its US clients an option to utilize digital currencies to pay for procurements at online merchants. It also fashioned a dedicated commercial unit to focus solely on blockchain and crypto.

Global payments firm the Mastercard is too apparently planning to offer funding for some cryptocurrencies on its network this year.

Meanwhile, the US-backed food and beverage firm the Pepsi is also conferring options to procure the Bitcoin. Ride-hailing company Uber’s chief executive Dara Khosrowshahi stated that the firm will accept Bitcoin and other cryptocurrencies as a form of payment if it aids the business.

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