Digital bank Revolut has used bitcoin to pay for office rent in the United States to show how the company perceives the world of cryptocurrencies.
WeWork and Revolut announced that the neobank has become the first company ever to pay for its office space using cryptocurrency.
The biggest Revolut office in the US, located in Dallas will be able to house more than 300 employees.
Rhebecka 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.”
“As our member base continues to grow in the fintech sector, so will our ability to adapt to their needs and service a new economy,” said WeWork chief executive Sandeep Mathrani at the time.
“It only makes sense for us to expand on the optionality we provide by adding cryptocurrency as an accepted form of payment for our members.”
Ron Oliveira, Revolut’s US chief executive, added that the fintech, which launched in the US in March 2020, would be growing its Dallas office through “hiring initiatives”.
Although Revolut started with buying virtual coins four years ago, it did not allow customers to forward digital currency to wallets outside Revolut for a long time.
Experts on bitcoin and other cryptocurrencies generally warn that as long as users do not hold cryptocurrencies in specialized digital wallets such as Vault, Ledger, Mycelium or Phoenix, they do not have full control over virtual coins and therefore cannot consider themselves to be the holders.