Home News Revolut Pays for Dallas-Based WeWork Workspace With Bitcoin

Revolut Pays for Dallas-Based WeWork Workspace With Bitcoin

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An American flexible shared workspace provider WeWork will provide the British Revolut with space to host the fintech company’s office in Dallas, Texas. The agreement provides for payment in Bitcoin.

The new American office is designed for 300 employees. The transaction amount is unknown.

According to a statement by Revolut, payment in bitcoin will emphasize the company’s “growing faith” in cryptocurrency as a means of payment and will get rid of “expensive international transaction fees”.

About companies

Since February, the fintech company has introduced a permanent flexible work schedule. Moreover, allowed most employees to choose when to work in the office or at home.

In April, WeWork announced support for payments in Bitcoin, Ethereum, USD Coin (USDC) and Paxos (PAX) stablecoins as part of a partnership with the BitPay processing service. The first participant of the program was the cryptocurrency exchange Coinbase.

In July, the online bank Revolut raised $800 million at a valuation of $33 billion. These funds were planned to be used to launch new services. As well as access to the US and Indian markets. British Finance Minister Rishi Sunak noted the success of Revolut. He also said that the United Kingdom supports the development of the innovation sector.

The most expensive fintech startup in the UK

At the moment, Revolut is the most expensive fintech startup in the UK. Moreover, the second company by market value in Europe.

Recall that the CEO and co-founder of the company, Nikolay Storonsky, said that Revolut intends to achieve annual sales of billions of dollars before the public offering of shares. For 2020, the company’s profit was £261 million ($359 million), and its operating loss was £201 million ($276 million).

“In the future, we will see more and more companies moving to a business model in which they sell many products, rather than products of the same line,” Storonsky said.

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