US cryptocurrency exchange company, Coinbase announced its partnership with a digital gift card company as they introduced Coinbase’s new feature of allowing customers to purchase retail goods and services using their crypto assets, as reported on Wednesday.
According to Bloomberg, the exchange company partners with the digital gift card startup WeGift, a London-based gift card platform that makes gift cards the best pay-out and marketing tool for businesses, according to its website. Once the feature is introduced in the system of Coinbase, the customers may now purchase gift cards using their Coinbase wallet; assuring the users’ convenience and protection in each transaction.
However, the initial report stated that only customers from U.K., Spain, France, Italy, the Netherlands and Australia are first to avail the service yet Coinbase assures their users all over the world to be patient as they target to make the service available to more countries soon. Coinbase is currently accepting cryptocurrencies such as bitcoin, bitcoin cash, litecoin, ethereum and plans to add more cryptos in the next years.
Moreover, WeGift as Coinbase’s digital gift card partner offers over 120 retailers that accept their e-gift cards; this includes Google Play, Uber, Costa, Tesco, Carrefour, and M&S and many more.
“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” Coinbase stated in Bloomberg.
Coinbase as one of the world’s famous exchange company has recently been authorized by the U.K. markets watchdog, the Financial Conduct Authority, to provide payment services to their consumers using other digital cash alternatives such as digital cards, phone payments, and internet service.
Coinbase’ Fame In the Market
As reported by BTCNN, the company’s CEO and co-founder Brian Armstrong occupied the 20th spot on Fortune’s 40 under 40 lists; recognizing cryptocurrency as part of the leading industry in the world. Not only this, but Coinbase’s advertisements were also recently shown on the leading websites like Google and Instagram which implies its importance in the country and how it affects the economy and market around the world.
Coinbase featured a lot of ideas for the crypto owners for the past years. If their fame continues and succeeds in the future, cryptocurrency will have its distinct definition for being a reliable platform for everyone’s money and transactions.