The Service enhancements and the Expansion of Coinbase seems to have no end. Even after the conversion of the Trading platforms, the renaming of GDax in Coinbase Pro, there are almost daily News. This time it is a new partnership that allows customers from Europe and Australia, with their crypto-currencies to be able to well-known retailers such as Nike and Uber have to pay.
The new Partner of Coinbase is WeGift, a London based Fintech Start-up for gift cards. The special feature of the cards is able to convert that customers the crypto exchange of the currencies of their Crypto in gift cards. You can use these in turn in more than 120 shops, including Uber, Amazon and Tesco.
On the Website of WeGift the process is explained and also mentioned that in addition to an average Bonus of 5 per cent in gift card value, no exchange fees, after the user converts his crypto-balance from his Coinbase account.
Zeeshan Feroz, CEO of Coinbase UK, says about this partnership:
“Customers who purchase an E-gift card, will be charged no Coinbase-payout fees and bonuses on selected gift cards. With the introduction of E-gift cards, customers have a new way, your crypto balances and to recognize your value. About the gift cards you can buy directly tangible things or services. For example, you can convert Bitcoin in Uber credit or Ether for a shopping spree at Nike. Customers, therefore, receive greater flexibility and control over how they use their crypto-currencies.“
The European Expansion bears fruit
Initially, the Service is only for Australia, UK, Spain, France, Italy and the Netherlands. With presence in over 32 countries, intends to Coinbase, the extension to other markets in the next three months.
This Service follows this year’s Expansion to Europe, after the San Francisco-based exchange has received an E-money license by the Financial Conduct Authority (FCA). Financial supervision in the UK, granted, however, the possibility of E-money services as an Alternative to cash for 23 EU countries and the UK.