Victor Ugochukwu · Dec 14, 2020 . 5min read
Cardano holders can now spend ADA on big brands
Users can now choose ADA cryptocurrency for more than 1,200 major retail brands, such as Amazon, Nike, Starbucks, Airbnb.
By Victor Ugochukwu · Aug 27, 2020 . 5min read
EMURGO, a global blockchain solution and one of the founding entities of the Cardano protocol has partnered with Bidali, a crypto payment solution, to enable coin holders to spend ADA on big brands like Nike, Amazon or even Airbnb.
Announcing in a press release, EMURGO’s partnership with Bidali allows the latter to integrate ADA as one of the assets available to users of its platform to purchase gift cards. Bidali is a Canadian payment processor that offers next-generation digital currency payment solutions. It allows users to purchase items from more than 1,200 major retail brands, such as Amazon, Nike, Starbucks, Airbnb. Users can now choose ADA cryptocurrency available on Bidali’s online platform to purchase gift cards from it.
Bidali already serves huge clientele in the US and several other areas where its platform is operational. By allowing ADA users to purchase name-brand retail gift cards to use in the desired region with their ADA at an equivalent fiat value, Bidali is adding to the already $180 billion gift card as the press release pointed out.
Cardano already allows staking, this partnership adds more utility to the token users to spend ADA on big brands.
Just recently, Cardano successfully transitioned to a full decentralized blockchain network with the Shelley upgrade. Moreover, staking is already a proven utility for cryptocurrencies. Additionally, many projects employ this to reduce sell pressures which tend to devalue tokens. Consequently, with staking available on Cardano, ADA use cases are adding up. And with a valuable token means liquidity for use on perhaps regular online purchases. Thus, EMURGO CEO Ken Kodama said:
“EMURGO is delighted to increase the real world utility of Cardano ADA and give ADA holders the option to purchase products from a wide spectrum of some of the world’s most well-known brands. We are happy to support Bidali and platforms adding to the Cardano ecosystem with our resources,”
On the flip side, this partnership also helps Bidali address the trend of gift card frauds on its exchanges. Equally important about blockchains is that it helps to prevent fraudulent double-spending. Erik Ashdown, VP of Growth at Bidali said:
We’re very excited to be applying this towards the gift card space where fraud and lack of traceability are huge problems,”
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