Cryptocurrency exchange Coinbase has partnered with a UK digital gift card startup WeGift to introduce crypto e-gift cards available for spending at major retailers in the European Union and Australia, Coinbase UK CEO Zeeshan Feroz said on July 25, 2018.
What a time to be alive. Criptocurrencies like Bitcoin, Ethereum, Litecoin, and Ripple are creeping into every pore of our everyday lives and nowadays you can use them to pay for a range of products and services online. But why stop there? Imagine having the possibility to send a crypto gift card to your friends and family which they can use in one of 120 retail shops and services providers?
No more waiting, the future is already here, courtesy of Coinbase and WeGift.
The San Francisco-based exchange stated:
“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 customers can now spend their digital tokens with their favorite retailers, including Nike, New Look, House of Fraser, Google Play, Uber, Tesco, Zalando, Ticketmaster, and more.
Worried about withdrawal fees? Don’t be. If you purchase an e-gift card, you will enjoy zero Coinbase withdrawal fees and bonuses on select e-gifts.
For now, this service is available in a limited number of countries: the UK, Italy, France, Spain, the Netherlands, and Australia.
But fear not, Coinbase says they’re working on expanding this number in the following period, after increasing the number of retailers and markets.
If you have a Coinbase account, you can purchase your first e-gift card at WeGift website. Simply select your coinbase wallet, choose the amount you want to spend, and select the eGift card you want to purchase, and that’s it.
They began offering their services to European users in 2014, with the UK being their largest market there.
In March 2018, the UK’s Financial Conduct Authority (FCA) granted them an e-money license, allowing them to issue e-money and provide payment services in the UK. Their e-money license extends beyond the UK to 23 countries within the EU.
Moreover, they became the first crypto exchange to support the UK’s Faster Payments Scheme, providing safer, faster, and seamless bank transfers.
Headquartered in London, WeGift enjoys the backing of world’s leading entrepreneurs, VC’s, and corporations, with over 120 brands live on the platform and has already launched in 10 different territories.
Founded in 2015, they provide a variety of eCommerce, analytics, marketing, stock management, and API solutions, for physical and digital gift cards.
For buyers, they offer an instant connection to their retail partners with a mission to enable on-demand delivery of e-gift codes from any brand, in any amount, anywhere, in real-time.