Cryptocurrency exchange Coinbase Inc. launched a new option for its customers in the EU and Australia, allowing them to instantly spend their crypto balances on e-gift cards.
Coinbase has partnered with London-based online gift card startup WeGift to bring out the Crypto E-Gift Cards.
The customers can now spend their crypto with major companies, including Nike, Tesco, Uber, Google Play, Ticketmaster, and Zalando. Coinbase offers zero withdrawal fees for those purchasing the e-gift card, and bonuses on select e-gifts.
The new service is currently available in the UK, Spain, France, Italy, Netherlands and Australia. The company sees expansion to more retailers and markets over the next three months.
In the US, the crypto exchange in 2015 launched the Shift debit card, a VISA debit card, which allows customers to spend their bitcoin in stores and online.
The company recently launched a new crypto custody service for institutional investors called Coinbase Custody. It provides secure storage of crypto assets for institutions in both the US and Europe.