In a recent official press report, The U.S. based crypto exchanges Coinbase confirmed its partnership with a UK based online startup platform company ‘WeGift’ followed by allowing its users effectively to use their crypto assets in their coinbase wallet to pay for brands such as Nike, Google Play, Ticketmaster, Zalando, Uber etc. Currently, the exchange supports trade in Bitcoin ‘BTC’, Bitcoin Cash ‘BCH’, Litecoin ‘LTC’ and Ethereum ‘ETH.’ Support for more currencies is likely to be added in mere future, depending upon the demand by the users.
As per Coinbase blog post which stated as :
“Starting from today, Coinbase customers in the European Union and Australia would be able to instantly spend their cryptocurrency balances on e-gift cards, making us the first trading platform to offer direct withdrawals into e-gift cards.”
Since for now the services for the coinbase users in UK, France, Netherlands, Italy and Spain are available. While as per the company’s target for next three month’s, its planning to expand into more countries with a more list of merchants.
Coinbase exchange secured an e-money license by UK’s Financial Conduct Authority ‘FCA’ back in may this year to establish a new legal beachhead in the UK from which it can further penetrate the European bitcoin market. After which the company planned an expansion of this kind as a next plan of its upgradation and to increase the # among major brands globally.