Its Revolut’s Time For Adoption As It Pays For Its WeWork Office Space In Bitcoin
Bitcoin has gained massive adoption from corporate entities over the past few years, and this time, it is UK-based fintech firm Revolut that is using BTC to pay for an office space.
Revolut Pays For An Office Space In Bitcoin
Revolut, one of the leading fintech companies in the United Kingdom, has decided to pay for its largest office space in Bitcoin. The company rented the office space in the United States and has paid WeWork the rent in BTC.
WeWork announced that the challenger bank rented its new U.S.-based office in Dallas, Texas, and it is set to host 300 people. According to WeWork, Revolut is its first enterprise member to rent a new space using cryptocurrency.
We're thrilled to be partnering with @RevolutApp to provide a new home for their employees in Dallas while utilizing cryptocurrency in the process to power their new flexible work strategy. #wework https://t.co/A6EJhmQXTq
— WeWork (@WeWork) September 16, 2021
Revolut stated that it paid for the office space in Bitcoin to showcase its growing belief in cryptocurrencies as a method of payment. Paying with Bitcoin and other cryptocurrencies eliminates the need to use intermediaries for its transactions. As such, the move has saved the company from costly international remittance fees.
The Adoption Of Bitcoin Is Growing
Revolut’s payment in BTC doesn’t come as a surprise, as WeWork announced earlier this year that it has started accepting payments in cryptocurrencies. WeWork partnered with crypto payment processor BitPay to provide the payment options to its clients.
The British fintech’s partnership with WeWork will also allow its offices in Berlin, Dallas, Dublin, Melbourne, Moscow, Singapore, and New York to be redesigned as flexible workspaces.
The leading cryptocurrency has been struggling to top the $50k level in recent weeks. BTC is down by roughly 1% today and is trading just above the $47k at the moment. The broader crypto market is also in a bearish run at the moment, and more losses could be recorded during the weekend.