Coinabase, one of the largest crypto exchanges has launched cryptocurrency gift cards for real-world retail use. WeGift, a UK-based gift card provider is the primary partner for the offered option.
The new option allows customers in Europe to cash out their crypto coins for digital gift cards. Coinbase users can convert their coins into gift cards from more than 120 retailers, including Nike, Tesco, Uber, Google Play, Ticketmaster, Zalando, and many others.
“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 said in a statement.
Coinbase gift cards is available to customers in the UK, Spain, France, Italy, Netherlands, and Australia, though the exchange plans to expand the service in other countries.