Paxful, a global fintech platform and a pioneer in peer-to-peer finance, has announced the launch of a marketplace that will let US consumers exchange gift cards for Bitcoin.
Paxful’s director of product, John Balrup, confirmed the company would be giving $15 billion worth of unused gift cards a purpose.
According to Bankrate, 51% of US adults have unused gift cards lying around, which adds up to $15bn nationwide – five times more than last year.
From there, they can set the price to activate the offer, which is fulfilled by Paxful automatically.
Also, users are enabled to add up to 50 gift cards at a time.
To date, Paxful has a gift card trading volume of $817 million and a lifetime gift card trading volume of $4.8 billion.
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