September 18, 2021

Revolut to pay in bitcoin for Dallas office rental

Flexible workspace provider WeWork will provide UK-based Revolut with space to house the fintech company's office in Dallas, Texas. The agreement includes payment in bitcoin.

The new US office will accommodate 300 employees. The amount of the deal was not disclosed.

According to Revolut's statement, the bitcoin payment will highlight the company's "growing faith" in the cryptocurrency as a means of payment and eliminate "costly international transaction fees".

Since February, the fintech company introduced permanent flexible working hours and allowed most employees to choose when to work in the office or at home.

In April, WeWork announced support for payments in bitcoin, Ethereum, USD Coin Stablecoin (USDC) and Paxos (PAX) through a partnership with processing service BitPay. Cryptocurrency exchange Coinbase was the first member of the programme.

In July, online bank Revolut raised $800 million at a valuation of $33 billion. The funds were planned to be used to launch new services, as well as to enter the US and Indian markets.

At the moment Revolut is the most expensive fintech startup in the UK and the second most expensive company by market value in Europe.

The firm's chief executive, Nicholas Storonsky, has said that Revolut intends to achieve annual sales of billions of dollars before going public.

Jack Evans

About the author

I became a crypto asset owner in 2014, when the industry was in its infancy. Before that, I was working in the classic US and European stock markets. Since then, I have gained extensive experience in both cryptocurrency investing and day trading. I am happy to share with readers my experience with crypto exchanges, DeFi and NFT instruments. 

View All Posts By Jack Evans