WeWork Cryptocurrency Payment System
Sector: Tertiary sector · Industry: Coworking and shared services · Organisation: WeWork · Maturity level: Production
WeWork has integrated cryptocurrency payments for its coworking services to simplify international payments and reduce transaction fees. The company accepts Bitcoin, Ethereum, USD Coin, and other cryptocurrencies through partnerships with BitPay and Coinbase. This integration allows global customers to pay more flexibly and positions WeWork as a technologically advanced provider in the coworking sector.
Documentation status
- Project status: Production
- Evidence: Evidence medium
- Editorial review: Ufuk Avci, 15 April 2026
Description
WeWork, the world's leading provider of flexible workspaces, has accepted cryptocurrencies as a payment method since April 2021. The company cooperates with BitPay (incoming crypto payments) and Coinbase (outgoing crypto payments to landlords and partners). Accepted currencies: Bitcoin (BTC), Ethereum (ETH), USD Coin (USDC), Paxos (PAX) and others. WeWork holds the received cryptocurrencies on its own balance sheet.
On 20 April 2021, WeWork announced the bidirectional introduction of cryptocurrencies: members pay via BitPay in BTC, ETH, USDC, PAX and other cryptocurrencies; WeWork pays landlords and third-party partners via Coinbase in crypto where possible. Coinbase — itself a WeWork member and the largest US crypto exchange — was the first company to pay its WeWork membership in cryptocurrency. WeWork holds the received cryptocurrencies directly on its balance sheet. WeWork CEO Sandeep Mathrani justified the move with the growing FinTech member base: "WeWork has always been at the forefront of innovative technologies." WeWork Chairman Marcelo Claure (SoftBank Group International CEO): "Cryptocurrencies must be considered a central part of the future of business." BitPay CEO Stephen Pair: "Crypto is the future of financial technology and payments — cheaper and easier than credit cards." WeWork filed for Chapter 11 bankruptcy protection in November 2023 and emerged from it under new leadership (CEO John Santora) in June 2024.
Perspectives
B2B — organisations perspective
WeWork members — especially FinTech companies and crypto startups — can pay their membership fees directly in cryptocurrencies without currency exchange. Landlords renting WeWork spaces can also receive rent payments in crypto.
B2C — consumers perspective
Individuals and freelancers gain additional payment options for their coworking memberships, which is particularly attractive for tech-savvy customers and digital nomads. This expands service accessibility for customers who primarily operate in cryptocurrencies.
Employees perspective
Finance teams benefit from the elimination of credit card chargebacks and reduced payment processing costs through BitPay. However, the crypto holdings must be accounted for and treated correctly for tax purposes.
Benefits
General
- Reduced transaction fees on international payments by eliminating traditional banking intermediaries.
- Faster processing of cross-border transactions without multi-day bank processing times.
- Positioning as an innovative, technology-oriented provider in the traditional real estate sector.
B2B — organisations
- Simplified international payment processing for globally operating corporate customers without currency conversion fees.
B2C — consumers
- Extended payment flexibility for tech-savvy customers and digital nomads who primarily operate with cryptocurrencies.
Employees
- Automated payment processes reduce manual administrative tasks in accounting and customer service.
Challenges
General
- Volatility of cryptocurrencies can lead to unpredictable fluctuations in payment value.
- Regulatory uncertainties in various countries can complicate implementation.
B2B — organisations
- Companies must develop internal processes for crypto accounting and tax reporting.
Employees
- Employees require training in cryptocurrency technologies and customer support for new payment methods.
Technology foundation
WeWork uses established blockchain networks such as Bitcoin and Ethereum via specialised payment providers like BitPay and Coinbase. This technology enables direct, cross-border transactions without traditional banking systems, reducing intermediaries and fees.
Implementation examples
WeWork cryptocurrency integration
WeWork wanted to simplify international payments and reduce transaction fees to better serve global customers. The company sought ways to position itself as a technology leader and appeal to tech-savvy target groups.
WeWork introduced cryptocurrencies as a payment method for coworking services and collaborates with BitPay and Coinbase.
WeWork implemented a comprehensive cryptocurrency payment system accepting Bitcoin, Ethereum, USD Coin and other digital currencies for memberships. The company works with BitPay for incoming customer payments and Coinbase for both incoming and outgoing transactions. WeWork holds the received cryptocurrencies as digital assets on the balance sheet and uses them for payments to landlords and third-party providers.
The integration resolved issues with high international transfer fees and long processing times for cross-border transactions. At the same time, it increased attractiveness for digital-native customers and companies.
Tags
Cryptocurrencies, Payment Systems, Blockchain, International Transactions, Fintech