Coinbase makes crypto gift card move

Coinbase is offering customers the chance to purchase goods and services from retailers using their crypto balances.

The US-based cryptocurrency exchange has partnered with WeGift to offer the fee-free service at over 120 retailers, including Amazon, John Lewis, Tesco, Uber, Google Play and Ticketmaster.

“Making crypto easier to use, trade and spend is a core part of our efforts to improve the customer experience,” says Zeeshan Feroz, Coinbase CEO. “With the launch of e-gift cards, customers now have the option to spend their crypto balances, realising its value to buy tangible things or experiences.”

The service is so far only available in the UK, Spain, France, Italy, Netherlands and Australia. Plans are afoot to expand the number of retailers and markets over the next three months.