Coinbase Teams Up With Startup, WeGift To Offer Digital Gift Cards Service In Europe
Well-established cryptocurrency exchange, Coinbase, has recently scored a partnership with provider of digital gift cards, WeGift in an attempt to offer Europe’s crypto fanatics the option of converting their crypto holdings into gift cards.
As per Bloomberg’s reporting the duo will be offering this service via 120 retailers, with limited European countries including the likes of Spain, France, Italy, the Netherlands, Australia and the U.K. However, this is supposedly a trial to see the demand for it along with customer usage. Coinbase still plans to expand this service across multiple countries.
As for the retailers, a sample list has been provided and it looks like Tesco, Nike, Uber, ASOS, Ticketmaster and Google Play are the options thus far.
“Whether it’s converting Bitcoin into Uber credits or Ethereum into an ASOS e-gift card, customers will have greater flexibility and control over how they use their crypto.”
This new feature is essential to increase user adoption, as consumers who have been questioning its real-life uses have finally gotten exactly that. In particular, Coinbase said,
“With the launch of e-gift cards, customers have a new option to spend their crypto balances, realizing its value to buy tangible things or experiences.”