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Revolut pays WeWork rent with Bitcoin! PayPal launches crypto trading service in the UK

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Revolut pays WeWork rent with Bitcoin! PayPal launches crypto trading service in the UK

The UK fintech company Revolut has announced that it has paid rent for office space using Bitcoin, highlighting its confidence in the blockchain industry and the potential of using cryptocurrency as a payment method in the future to save on international transfer fees. PayPal also announced today on Twitter that it supports cryptocurrency buying and selling services in the UK.

Using Bitcoin to Pay Office Rent

According to an official announcement by shared workspace rental company WeWork, Revolut has paid the rental fees for WeWork office space in Dallas for 300 employees using Bitcoin, making it their largest office in the U.S. Rhebecka D’Silva, Global Head of Real Estate at Revolut, stated:

Revolut is continuously seeking innovation, whether in financial services or workplace environments. As Revolut expands in the U.S. and globally, we are excited to continue rapid growth with our partner WeWork, allowing us to flexibly use cryptocurrencies for payments ── we believe in its future technology.

Revolut's Optimism Towards Cryptocurrency Payments

But why would this promising and high-valued financial company choose to make payments with Bitcoin? According to a report by The Block, part of it is to save money, and part of it is to emphasize their commitment to the crypto industry. A spokesperson for Revolut stated:

We firmly believe that cryptocurrencies will have many use cases in everyday real-life scenarios in the future. Payment with cryptocurrencies allows for near-instant payments without the need for intermediaries charging hefty international transfer fees.

Currently, Revolut U.S. users can buy, hold, and sell BTC, ETH, LTC, and BCH through the app, with plans to introduce more new features in the future. A spokesperson for Revolut mentioned:

While Revolut does not currently allow its 15 million customers to pay for goods and services using cryptocurrencies, it is working towards enabling cryptocurrency payments for future daily life.

PayPal Supports Cryptocurrency Trading in the UK

In addition to Revolut, PayPal also announced today, the 17th, on their Twitter about cryptocurrency trading. Eligible PayPal users in the UK can now buy, hold, and sell BTC, ETH, LTC, and BCH through the app. PayPal stated on their official website:

We are committed to continuing to work closely with regulatory authorities in the UK and around the world to provide our assistance and make meaningful contributions to the role that digital currencies will play in the future of global finance and commerce.