San Francisco-based crypto giant Coinbase is reportedly rolling out a new feature that will allow its European customers to cash out their cryptocurrency in the form of digital gift cards.
According to a recent blog post, Coinbase has partnered with London-based startup WeGift to offer European users the option to convert their crypto into gift cards from more than 120 retailers, including Nike, Tesco, Uber, Google Play, Ticketmaster, Zalando, and many more.
In a statement to Bloomberg, Coinbase emphasizes the flexibility of the new payout system.
Whether it’s converting Bitcoin into Uber credits or Ethereum into an ASOS e-gift card, customers will have greater flexibility and control over how they use their crypto. With the launch of e-gift cards, customers have a new option to spend their crypto balances, realizing its value to buy tangible things or experiences.
The service will initially be available to users in U.K., Spain, France, Italy, the Netherlands and Australia, and Coinbase plans to expand into other countries in the future.
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Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.