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Softbank-backed Wattwork adopted crypto as payment and news in balance sheet – news bitcoin news

Global space provider Vwork has announced that it will now accept payments in select cryptocurrencies. The company has partnered with BitPay and Coinbase for inbound and outbound transactions. In addition, the SoftBank-backed company says it will also hold currency on its balance sheet.

Wins in crypto

In relation to cryptocurrency, on Tuesday, Vwork announced a number of initiatives. The company provides an environment for individuals and businesses ranging from freelancers to Fortune 500 companies. With more than 800 locations worldwide in more than 150 cities, Wework says it is the largest global space provider in the world. Japanese multinational company SoftBank Group Corp (9984.T) holds a majority stake in the company.

In Tuesday’s announcement, Wework said it was “now accepting payments in select cryptocurrencies.” The company will also use “cryptocurrency for inbound and outbound transactions” in partnership with BitPay and Coinbase. In addition, it will keep cryptocurrency on its balance sheet, joining a growing list of companies to do so, including Elon Musk’s Tesla, Jack Dorsey’s Square and Michael Saylor’s MicroStrategy.


Announcement Details:

Through BitPay, a cryptocurrency payment service provider will accept bitwork bitcoin (B T c), Ethereum (ETH), USD Coin (USDC), Paxos (PAX), and many other cryptocurrencies as payment for its offerings. Work will also hold currency on its balance sheet.

The announcement continues, “The company will pay landlords and third-party partners in cryptocurrency when implemented through Coinbase, a Wework member and the largest US cryptocurrency trading platform.”

In addition, Wework states that Coinbase has become its first member company to pay for membership in cryptocurrency.

Sandip Matharani, CEO of Work, said: “Work has always been at the forefront of innovative technologies, finding new ways to support its members. It only makes sense for us to expand on the optionality provided by adding cryptocurrency to an accepted form of payment for our members. “

Marcello Claire, CEO of SoftBank Group International and President of Work, commented:

Cryptocurrency helps create a strong global economy and Wework’s announcement demonstrates the company’s commitment not only to innovation but to being a globally focused business.

What do you think about work in crypto? Let us know in the comments section below.

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