Crypto Gift Card Service Offered By Coinbase And WeGift

Announcements, News | July 25, 2018 By:

Digital gift card provider WeGift is partnering with crypto exchange Coinbase to let customers purchase retail goods and services using cryptocurrencies.

based in the UK, WeGift is startup that delivers open value, real time digital gift cards, on demand. It offers eCommerce and API products that allow brands to create new gift card sales channels both online and in B2B. For buyers, the startup provides an instant connection to their retail partners with a mission to enable on-demand delivery of e-gift codes from any brand, in any amount, anywhere in the world, in real time. It currently has over 120 brands live on the platform, including Tesco, Uber, Amazon, John Lewis, Google Play, ASOS and Costa.

The partnership will allow Coinbase users to buy electronic gift cards and load these using cryptocurrencies from their Coinbase wallets. The gift cards can then be used at all partner retailers on the WeGift platform. There would be no fee for purchasing the gift card. Users can also receive bonus credit on the card, ranging from 1 to 15 percent, at select retailers.

“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,” said Coinbase founder Zeeshan Feroz in a statement. “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 new service is currently available in the UK, Spain, France, Italy, Netherlands and Australia. Coinbase said they will be expanding the number of retailers and markets over the next three months, as well as looking to expand into other countries soon after.