Coinbase announced in a blog post on Wednesday that customers in the EU and Australia can now use their Coinbase cryptocurrency balances to purchase e-gift cards. The new feature is being offered as part of a partnership with WeGift and will be available on a limited rollout basis to customers in Australia, France, Italy, the Netherlands, Spain, and the UK.
According to the company blog post:
“By partnering with WeGift, our customers can now spend their crypto with all their favourite retailers, like Nike, Tesco, Uber, Google Play, Ticketmaster, Zalando, and many more.
Customers purchasing an e-gift card will enjoy zero Coinbase withdrawal fees and bonuses on select e-gifts. From converting bitcoin into Uber credits or ether into a Nike shopping spree, customers will have greater flexibility and control over how they use their crypto.”
Though the initial rollout is limited to only a few select countries, Coinbase confirmed its plans to expand the offer’s reach by adding new markets and retailers “over the next three months,” with expansion to other nations “soon after.”
The announcement noted that “Making crypto easier to use, trade and spend is a core part of our efforts to improve the customer experience.” The company said that the e-gift card initiative will provide its customers with a new way to spend their Coinbase crypto holdings by purchasing “tangible things or experiences.”