Coinbase launches a new use for cryptocurrency balances on the exchange. Talking on the platform’s Medium page earlier today, Zeeshan Feroz, the exchange’s UK CEO, wrote that customers of Coinbase in selected regions will now be able to spend their cryptocurrency balances on e-gift cards. The new service will begin operation today, July 25.
Feroz highlighted that the new service launch pegs the exchange platform as the first platform to allow its customers to make withdrawals directly into e-gift cards.
Coinbase Announces New ‘E-Gift Card’ Allowing Users to Spend Crypto With Nike, Tesco, Uber, and More
According to Feroz, the trading platform attaches importance to improving customer experience by making crypto transactions easier for its customers. The introduction of this new use is just one of the company’s various efforts to achieve this.
Partnership With WeGift
The new use for cryptocurrency was born out of a team up with WeGift. The result of the partnership is that customers will now be able to put their crypto into good use with different retailers such as Ticketmaster, Nike, Uber, Tesco, among other prominent ones.
For utilizing the new service, there will be no Coinbase withdrawal fee charged on customers’ accounts. In addition to the zero-charge transaction, customers will also be eligible for various bonuses on certain e-gifts. The new service aims to enhance customer flexibility and control over the use of their virtual currencies.
Presently, the service can only be enjoyed by customers in the UK, Australia, Spain, France, the Netherlands, and Italy. Subsequently, the platform will consider expansion of this service into more countries.
Customers with a Coinbase account can make their first e-gift card purchasehere.