Bitcoin finds its way into another big institution.
By James Kouzinas
18th September 2021
Revolut, a renowned UK challenger bank that recently raised a whopping $800m over this past summer, has just inked a deal with WeWork.
Although this is the coolest news that we’ve heard in a month of Sundays, what really caught our attention is that the group paid for its latest US-based office in Dallas, Texas using Bitcoin.
According to Revolut, they paid for the space using Bitcoin to make a statement; to underscore their growing belief in cryptocurrencies as a method of payment. Paying in crypto has also allowed them to bypass the need to use intermediaries relating to the transaction. As a result, the British firm has been spared from costly international remittance fees.
This isn’t the first time WeWork has been on the receiving end of crypto payments. The well-known PropTech company announced in April of this year that they will begin accepting crypto payments. To get things moving, Coinbase became their first customer to pay for a workspace in crypto.
Crypto continues to find its way into global institutions, helping drive its mainstream adoption.
“At its core, cryptocurrency is typically decentralized digital money designed to be used over the internet. Bitcoin, which launched in 2008, was the first cryptocurrency, and it remains by far the biggest, most influential, and best-known.”
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