Revolut uses Bitcoin to Pay for its office space

Karthik Subramanian

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.

  • Read this next

    Retail FX

    Weekly Roundup: FX prop firms switch to cTrader, who moved $1.35B BTC?

    The foreign exchange and cryptocurrency markets are always active, and this past week was no exception. Stay ahead with a selection of essential stories and updates that matter most to market participants.

    Digital Assets

    Bitcoin breaks all records with a massive $1.347 billion transaction

    This transaction has surpassed previous records, setting a new benchmark for Bitcoin trades. Before this event, the largest Bitcoin transactions included a $1.1 billion trade in April 2020 involving 161,500 BTC, and other significant transactions ranging from $491 million to $1.033 billion throughout 2019 and 2020.

    Digital Assets

    Uniswap debuts Ethereum ‘uni.eth’ subdomains

    Decentralized exchange platform Uniswap has integrated Ethereum Name Service (ENS), allowing users to create human-readable domain names and cryptocurrency wallet addresses using .eth endings.

    Web3

    Magic Square Expands with TruePNL Acquisition

    Binance’s web3 app store, Magic Square, acquired token platform TruePNL in a cash deal this week for an undisclosed sum. The deal brings TruePNL’s infrastructure (excluding branding & token) under Magic Square’s wing. Initially seeking a partnership, Magic Square opted for a full acquisition.

    Crypto Insider

    The Future of Prediction Markets? Zeitgeist Launches Decentralized Court System

    Polkadot-powered prediction market protocol Zeitgeist has announced the launch of its latest innovation: a decentralized court system.

    Digital Assets

    Crypto exchange Kraken fires back at SEC lawsuit, claiming overreach

    Crypto exchange Kraken is pushing back against the U.S. Securities and Exchange Commission (SEC), seeking to toss out a lawsuit that accused the platform of operating without proper registration.

    Industry News

    Exness Named a Best Place to Work in 2024

     Global leader Exness, tops in retail trading volume, earns 2024 “Best Place to Work” award, cementing its employee-centric culture after three prior years of winning the Cyprus national title.

    Digital Assets

    Swan Bitcoin taps Bakkt for crypto offering in the US

    “We are thrilled to be taking this exciting step forward in our partnership with Swan. This is just the beginning of our collaboration, as we intend to explore further growth opportunities together in the future, including expansion into international markets.”

    Digital Assets

    Polkadot Awards Bifrost a 500,000 DOT Loan to Enhance Liquid Staking Adoption

    Bifrost, a leader in liquid staking solutions, has secured a 500,000 DOT loan from Polkadot’s treasury to expand the reach and utility of its vDOT product within the ecosystem.

    <