Coinbase, a digital currency exchange headquartered in San Francisco, California has launched cryptocurrency gift cards in Europe and Australia. The company has partnered with WeGift, a London-based FinTech company. This will allow its users to convert cryptocurrency into gift cards from more than 120 retailers like Nike, Tesco, Uber, Google Play, Ticketmaster, Zalando, and many more.
This new service is currently available for people in the UK, Spain, France, Italy, Netherlands and Australia. Coinbase will be expanding the number of retailers and markets over the next three months and is also looking to expand into other countries soon after.
Zeeshan Feroz, Coinbase CEO (UK) said that
Making crypto easier to use, trade and spend is a core part of our efforts to improve the customer experience. With the launch of e-gift cards, customers now have the option to spend their crypto balances, realising its value to buy tangible things or experiences.
Customers purchasing an e-gift card will reap the benefits of zero withdrawal fees and bonuses on select e-gifts. If customers convert bitcoin into Uber credits or ether into a Nike shopping spree will have greater control over how they use their crypto. The complete procedure is explained here.
Zeeshan Shan further said that,
“If you’d like to make your first e-gift card purchase with your Coinbase account, visit wegift.io/coinbase to get started”
This will make Coinbase the first trading platform to offer direct withdrawals into e-gift cards. Founded in June of 2012, Coinbase is a digital currency wallet and platform where clients can transact with new digital currencies like bitcoin, ethereum, and litecoin.
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