The big crypt market Coinbase has entered into a new partnership. This new partnership will allow customers in Europe and Australia to leverage their cryptocurrencies even more effectively. At the heart of this are gift cards that allow customers to pay to major retailers and service providers, such as Nike and Uber.
To achieve this, Coinbase is partnering with WeGift, a London-based fintech start-up. Coinbase customers can now withdraw their Coinbase cryptocurrencies and charge gift cards. With these you can then pay at more than 120 dealers. Among them are big names like Uber, Amazon, Zalando, Decathlon and others.
WeGift explains on its website how the system works. For example, customers simply have to go to their Coinbase account for use. There they chose the amount they would like to spend. Then they would just have to select the desired electronic gift card they want to buy.
A big step forward for the mass adaptation of Bitcoin & Co.
On its website, WeGift also highlights the benefits of using it and compares it to a traditional bank account. For example, the exchange and payment of cryptocurrencies to a bank account would take three days. With the electronic gift card, however, the money is immediately available. Also, the customers did not pay any conversion fees at WeGift, while the banks were charged 1.49 percent. In addition, WeGift customers received a gift card value bonus averaging 5 percent. On a payout to a bank account, there is no bonus.
In the Coinbase blog, Coinbase CEO for the United Kingdom, Zeeshan Feroz said:
“By converting Bitcoin to over-the-wall or exchanging Ethereum for a Nike shopping spree, customers now have even more flexibility and control over how they use their crypto currencies.”
“With the release of the electronic gift card, customers have new ways to spend their cryptocurrencies. That way, they can turn the value of the cryptocurrency into tangible things or experiences. “
Initially, the service is only available to customers in Australia, the United Kingdom, Spain, France, Italy and the Netherlands. Coinbase is present in 32 countries. Therefore, within the next three months, the service is also to be made available to customers in other countries.
Initially the service is only available in Europe
The new service shows the expansion of Coinbase in the European market. This became possible after the San Francisco-based company received an electronic money license. The license was granted by the British Financial Market Authority FCA. With the license, Coinbase can offer electronic cash services as a cash alternative in 23 EU countries and the UK.
Another big step is the entry of the crypto exchange into the Japanese market. Japan has one of the world's largest markets for cryptocurrency trading and is of course of the highest interest to Coinbase.
Sources: WeGift.io, The Coinbase Blog, The Coinbase Blog (Electronic Money), Pixabay
Author: Peter Joost – Source Post: https://www.kryptovergleich.org/bald-mit-bitcoin-bei-amazon-und-zalando-einkaufen-neue-partnerschaft-mit-bitcoin-boerse-macht-es-moeglich/
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