SALT LAKE CITY — Bitcoin investors can now use their cryptocurrency at a number of retail stores, according to Fortune.
Flexa, a payment processing startup, released a new custodial crypto wallet called SPEDN, which will allow users to spend a number of cryptocurrencies, including bitcoin, ethereum, bitcoin cash or GUSD at retailers, according to CoinDesk.
Flexa cofounder Trevor Filter told CoinDesk that the app will work at Nordstrom, Barnes & Noble, Express, Lowe’s, GameStop, Office Depot, Regal Cinemas and Jamba Juice, among other businesses.
Sarah Olsen, the head of business development at Gemini, told CoinDesk the company will provide security for using bitcoin and cryptocurrencies.
“Whether that’s a foreigner who’s coming to the U.S. and more easily able to participate in our economy or vice versa,” Olsen said, according to CoinDesk.
But, according to Forbes, a number of these companies don’t feel comfortable admitting that they accept cryptocurrencies.
“The problem is, Starbucks, and every single one of a huge group of giant enterprises now accepting cryptocurrency as payment, seem to be having trouble admitting what they’re doing,” Forbes reports.Comment on this story
According to Fortune, it’s possible to use SPEDN to buy items at Starbucks, Baskin-Robbins and others. All it takes is a transfer from your bitcoin account to the SPEDN app, which can be accepted at these stores.
Why it matters: “To be perfectly clear, this is a big, big deal,” according to Forbes. “For an industry born in anonymity and mystery, grown by crypto-anarchists, and tested in the fires of black markets in the dark corners of the deep web, this is the beginning of a new phase of mainstream acceptance. But also to be clear, none of the companies have independently confirmed they are now accepting cryptocurrency.”