Blockchains and Bagels: the morning market update to get you ready for the day ahead. Today, Coinbase teams up with Gift-card startup WeGift while BlockFi completes capital raise with Galaxy Digital as the lead investor.
Cryptocurrency exchange Coinbase Inc. has partnered with WeGift to allow customers to convert virtual currency to electronic gift cards for more than 100 retailers, including major names like Amazon and Tesco. The service is only available to select customers in the E.U., and Australia, but Coinbase plans to expand the service to other countries eventually.
BlockFi is a New-York based startup, focused on building a digital asset lending platform. The loan service is available in 35 U.S states and uses Geminis custody solution to protect customer deposits. The company will use the capital to establish its position in the United States and expand to international markets.
The Gibraltar Blockchain Exchange has formally opened to the public and will accept fiat deposits for customer onboarding. Currently, the exchange supports trading of 3 crypto-to-fiat pairs and five crypto-to-crypto pairs, with plans to expand their offering in the future.
Singapore Airlines launched KrisPay, a blockchain wallet service, that allows members of the carriers flyer program to convert their miles into the companys digital currency. The services blockchain is run and owned privately by Singapore Airlines, and only partners within the network can transact with the currency. The launch comes after a successful proof-of-concept completed by the carrier, in partnership with KPMG and Microsoft.
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