Coinbase, one of the biggest crypto exchanges has announced the introduction of multi-task, gift eCard through a partnership with a UK-based startup WeGift . According to the CEO of the company, clients from all around the world would now be able to spend cryptocurrencies on these new e-gift cards were launched on July 25.
Zeeshon Feroz also highlighted that through this move, Coinbase is set to become the first platform to allow their customers to withdraw digital currencies directly onto an e-card. Those cards could later be used to pay for goods or services at stores like ASOS, Nike, Tesco’s supermarkets, Uber rides and countless other things.
This new service is aimed at making it easier for customers to utilize their cryptocurrencies by making transactions more simple. However, as of now, the service is limited to just U.K, Spain, U.S, Italy, Holland and France, Australia.
WHY IS IT IMPORTANT?
1. Coinbase is the biggest cryptocurrency exchange in the U.S, and claims to service over 13 million customers worldwide.
2. Around 120 stores will accept the gift cards for payment for the goods and services.