Revolut pays in Bitcoin for new WeWork office space

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Fintech Revolut is the first WeWork member company to sign on for its latest new cryptocurrency workspace.

The challenger bank will use Bitcoin to lease its largest office in the United States, located in Dallas and housing more than 300 employees, according to a September 16 statement from flexible office space mogul WeWork.

The news comes as Revolut seeks to break into the US market, with the intention of launching a credit card for its US users, as revealed. Financial news last month.

In its statement, WeWork said Revolut’s decision to use cryptocurrency “demonstrates its confidence in blockchain as well as the broader potential of cryptocurrency.”

READ Revolut plans to launch a credit card in 2021 with the aim of breaking into the US market

In April, WeWork announced that it would allow members to pay their fees and rent office space using cryptocurrencies, saying they would accept bitcoin, ether, USD coin and paxos, among others.

“As our membership base continues to grow in the FinTech industry, our ability to adapt to their needs and serve a new economy will also increase,” WeWork CEO Sandeep Mathrani said at the time. “It makes sense that we expand on the option we offer by adding cryptocurrency as an accepted form of payment for our members. “

Members will be able to pay through a partnership with crypto exchange Coinbase and payment platform BitPay, WeWork explained in April.

READ WeWork will accept crypto for membership fees and pay owners with bitcoin

“Revolut is always looking to push the boundaries of innovation, whether in financial services or the workplace experience,” said Rhebeckha D’Silva, global real estate manager at Revolut, in a statement. .

“We are excited to continue our rapid growth trajectory with an innovative partner like WeWork which offers us the ability to pay using cryptocurrency – a technology we strongly believe in the future – as Revolut expands in the United States. United and in the world. “

Ron Oliveira, US chief executive of Revolut, added that fintech, which launched in the US in March 2020, would expand its Dallas office through “recruiting initiatives.”

READ Klarna takes WeWork space for new London office as part of hybrid work strategy

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