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.