Coinbase will have a new feature: converting cryptocurrency into gift cards

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Users will be able to freely exchange their crypto-currencies on the Coinbase platform for gift certificates of different denominations of more than 120 retailers.

The largest American currency exchange Coinbase integrates into its system a new service – converting crypto-currencies available in user accounts into gift cards. The company has already signed an agreement with the profile start-up WeGift. After a full implementation of the idea in life, users can freely exchange their crypto-currencies on the Coinbase platform for gift certificates of different denominations of more than 120 retailers.

At first, only residents of Great Britain, Spain, France, Italy, the Netherlands and Australia will be able to use the new service, but in the very near future, according to the representatives of the US stock exchange, the function will be available to a wide range of consumers from different countries.

In Coinbase stated:

“Will the client want to convert bitcoins into Uber credits or aether into ASOS electronic gift certificates, he can always be sure that he will get a higher degree of flexibility and control in the use of his cryptocurrency. Thanks to the launch of electronic gift cards, users will have a new opportunity to spend their crypto-currencies and realize their value by purchasing tangible goods or services. “

Recall, previously there was information that Coinbase now has the ability to add tokens, which can be regarded as securities. A corresponding listing permit for such assets was issued by the US Securities and Exchange Commission (SEC) and the Financial Institutions Regulatory Agency (FINRA). However, later the vice-president of the exchange Rachel Horwitz completely refuted this information, saying that it’s incorrect to say that Coinbase got permission from the SEC and FINRA, because the SEC did not take part in the process, and some special approval from the regulators in this issue is not required.

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