One of the most important cryptocurrency exchanges and platforms, Coinbase, has signed a new partnership to offer crypto gift cards in Europe and Australia. With this new agreement it will be possible to spend virtual currencies in major retailers including Nike and Uber.
Coinbase’s New Partnership
The Los Angeles-based crypto company, is working with WeGift, a London-based FinTech firm that allows users spend their virtual currencies in the form of gift cards. Once the client withdraws its funds to the gift card, it is possible to use it in different retailers that include Nike, Uber Amazon and Tesco.
Those who use these e-gift cards will have zero Coinbase withdrawal fee and some bonuses in some e-gifts.
Coinbase UK CEO Zeeshan Feroz, commented on the matter:
“Customers purchasing an e-gift card will enjoy zero Coinbase withdrawal fees and bonuses on select e-gifts. From converting bitcoin into Uber credits or ether into a Nike shopping spree, customers will have greater flexibility and control over how they use their crypto.”
At the moment, the service will be available for clients in the United Kingdom, Spain, France, Italy, Netherlands and Australia. In the future new locations and retailers will be added, explains Mr Feroz.
Additionally, he said:
“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, releasing its value to buy tangible things or experiences.”
This new service is related to the expansion that the company is having in Europe during the last months. Coinbase received an e-money license by the Financial Conduct Authority (FCA), which is one of the most important regulators in the European Continent.
It is also important to mention that the exchange and crypto platform entered the market in Japan and is trying to start operating there as soon as possible.
During the last week, Bitcoin was able to register an important gain after being traded for more than a month under $7,000 dollars. It seems that the bullish sentiment is starting to grow up again in the crypto community.