Revolut uses Bitcoin to Pay for its office space
Revolut, the company that is looking to build a financial super app, has used bitcoin to pay for its largest office space in Dallas, Texas to the flexible workspace provider WeWork.
While there have been many times when the mainstream usage of bitcoin has been pushed repeatedly by several members of the crypto ecosystem, it is indeed a big surprise that Revolut has taken the lead in this aspect. Revolut has been one of the big supporters of the crypto industry in recent time and the introduction of crypto trading on its platform last year has helped it to boost its revenues and this improvement in trading volumes and revenues through crypto trading is expected to increase in the future as well.
So, by paying for its office space in bitcoin, it probably wishes to send a message that its embrace of crypto is likely to continue for a much longer time and also that crypto can be used for mainstream purposes as well. WeWork has also said that this is the first enterprise client that has paid them through bitcoin. The fact that this transaction has happened between 2 major companies located in 2 major economies in the UK and the US should be a general boost to the crypto sector.
Revolut has its offices with WeWork in Berlin, Dallas, Melbourne, Moscow, Singapore, and New York and the company has said that it would continue to expand through the rest of the US in the coming months as it hopes to push growth and expansion as the adoption of its super app continues to improve among the users.
“Flexibility is essential for growing companies, and by supporting transactions in cryptocurrency, we can offer choice and convenience while supporting Revolut’s innovative business,” Nick Giraudeau, global head of financial services sales at WeWork, said.
The expansion by Revolut continues amidst its plan to raise $1 billion in funding to continue its push towards becoming a financial superapp that would be used across many industries. It also plans to use the newly raised funds to complete acquisitions as it aims to leave its footprint in as many industries as possible so that it would be able to bring in more users in the future. In this race to become a super app, it is likely to compete with the likes of Robinhood as competition in the financial services industry heats up.