Coinbase Introduces Cryptocurrency Gift Cards

July 26, 2018

The digital trading platform Coinbase announced the launch of a new service that allows all its customers to withdraw their virtual assets through digital gift cards.

The cryptocurrency exchange teamed up with a British startup called WeGift. The partnership allows users of Coinbase to exchange virtual assets for gift cards of more than one hundred companies. At the first stage of this project, Coinbase will focus on France, Spain, Italy, the Netherlands, Australia and, Great Britain. If the project succeeds, the service will spread to the US and other countries.

Coinbase say in the statement: 

“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. 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.”

The company added that this innovation will expand the possibility of purchasing retail products with cryptocurrency, because previously there were no organizations that allowed customers to buy for example clothes of a famous brand for any cryptocurrency, even the popular ones.

It is worthy to note, that a few days ago the Kik messenger introduced their beta product dubbed Kinit. This product will also allow customers to exchange cryptocurrency for various gift cards with the help of their app. 

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