Crypto-currencies: WeWork dives into digital currency space

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Crypto-currencies
Crypto-currencies: WeWork dives into digital currency space

Venmo – the PayPal-owned peer-to-peer payment service, earlier in the day, said that it had started allowing users to buy, hold and sell crypto-currencies on its app

WeWork – the SoftBank-backed office-sharing start-up said that it would begin accepting payments is select crypto-currencies and partner with Coinbase Global Inc. and payment app Bitpay to facilitate transactions.

Prompting the move away from the fringes of finance for crypto-currencies like bitcoin, WeWork joins a clutch of high-profile firms that have dived into the digital currency space recently that includes Tesla Inc., Visa Inc. and Bank of NY Mellon.

Using crypto-currencies, Visa Inc. said last month it would allow payment settlements, while PayPal Holdings Inc. launched a crypto checkout service on March 30.

The biggest crypto-currency – Bitcoin reached a record high last week, ahead of the trading debut of the US crypto-currency exchange Coinbase, but its rally has since cooled off.

Also, by investors seeking high-yielding assets amid low interest, the multi-fold rise in the value of crypto-currencies has been driven.

Venmo – the PayPal-owned peer-to-peer payment service, earlier in the day, said that it had started allowing users to buy, hold and sell crypto-currencies on its app.

WeWork agreed to go public late last month through a merger with a blank-check firm in a deal that values the start-up at $9 billion. SoftBank Group Corp said it would retain a majority stake in the company after the merger.

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