Digital (i.e. internet-only) bank Revolut has announced that it will be paying the rent for its massive 300-employee office in Dallas, Texas using Bitcoin.
Revolut, which was founded by Nikolay Storonsky, and Vlad Yatsenko in July 2015 in London, started life as a Fintech company by offering a multi-currency pre-paid debit card managed via a mobile app. Since then, it has expanded its range of services to include cross-border money transfers at Interbank FX rates, free global ATM withdrawals, personal loans, travel insurance, and cryptocurrency trading.
The FinTech firm, which raised $800 million via a funding round earlier in the year, said the purchase would underscore the company’s belief in cryptoassets as a viable form of payment.
In a press release issued on September 16, Revolut said that it had become leading global flexible space provider WeWork’s “first enterprise member to sign new space using cryptocurrency.”
Rhebeckha D’Silva, Revolut’s Global Head of Real Estate said:
“Revolut is always looking to push the boundaries of innovation, be it in financial services or workplace experience. We’re excited to continue on our rapid growth trajectory with an innovative partner like WeWork that affords us the flexibility to pay using cryptocurrency – a technology whose future we vehemently believe in – as Revolut expands in the US and around the world.”
Revolut went on to say that its decision to use Bitcoin to pay for the WeWork membership fees “demonstrates its confidence in blockchain as well as the wider potential for cryptocurrency.”
The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.