Revolut to Pay for Its Largest WeWork Office Space in Bitcoin
Revolut—which became the biggest company of its kind in the UK, after raising $800 million in an investment round this summer—announced that it has signed a deal with WeWork.
What’s more, the challenger bank is paying for the space in . The amount has not yet been disclosed.
The new U.S.-based office in Dallas Texas will host 300 employees, the firm’s largest office space to date.
Revolut paid for the space with Bitcoin to underscore the company’s growing belief in cryptocurrencies as a method of payment. Paying in crypto also sidesteps the need to use intermediaries for the transaction, thus saving the British firm from costly international remittance fees, according to a statement from Revolut.
WeWork, Revolut, and Crypto
WeWork announced that it had started accepting crypto payments for its services back in April this year. The functionality was made possible through crypto payments provider BitPay. The American crypto exchange, , was the first company to pay for a workspace with cryptocurrency.
Since February, Revolut has adopted a permanent flexible working strategy, enabling most of its employees to choose when to come into the office and when to work from home. Its partnership with WeWork will also enable Revolut’s offices in Berlin, Dallas, Dublin, Melbourne, Moscow, Singapore, and New York to be repurposed as flexible collaborative spaces.
The new Dallas workspace is the latest addition to Revolut’s flexible office spaces, collectively called “RevLabs.” Around 70% of RevLabs’ floorspace will be used to facilitate teamwork: brainstorming sessions, training, meeting spaces, quiet zones, and knowledge exchange.
Good news on two fronts: Bitcoin is further along the road to institutional acceptance, and, it seems, a few are planning for the post-pandemic return to normality.