Gemini has recently partnered with Flexa to allow major retailers like Whole Foods, Starbucks, Nordstrom, Barnes and Noble and more to accept Bitcoin, Bitcoin Cash, Ethereum, Litecoin, Gemini Dollar and many other cryptocurrencies.
Gemini is a digital asset exchange and custodian built for both individuals and institutions owned by Tyler Winklevoss and Cameron Winklevoss also known as the Winklevoss twins. Flexa is a new payments network, built using cryptocurrencies, that brings buyers and sellers closer together in order to cut processing cost, eliminate fraud, and preserve your privacy.
I first heard about Bitcoin in 2009. It sparked my interest enough to do some research on the general ledger payment network that was built upon blockchain technology. I watched Bitcoin on and off for a few years and in early 2014 noticed the domain name BitcoinWallet.com sold for $250,000 to an Austin entrepreneur. It was at this time that I began to understand the value of Bitcoin and Litecoin, another cryptocurrency developed in 2011 by former Google employee Charlie Lee. It began to make sense. The revolution of money was happening! The question in my mind was, how long would it take for the rest of the world to get on board?
Fast forward to 2019 where Bitcoin and cryptocurrency has became a common subject.
Last week Gemini announced a partnership with Flexa. This partnership will allow major retailers like Whole Foods, Starbucks, Nordstrom and many more to accept cryptocurrency payments. Just a few of the of the many payments currently accepted are Bitcoin, Bitcoin Cash, Ethereum, Litecoin and the Gemini Dollar. I believe this partnership will be the first of many we’ll see in the payments space.
Co-owner of Gemini Tyler Winklevoss said, “We are excited to announce another major step forward as we build the future of money: our partnership with Flexa, a global cryptocurrency payments network that enables major retailers to accept cryptocurrency payments in stores. Launching today, consumers can now easily spend their Gemini dollars (GUSD), bitcoin, ether, and bitcoin cash using the SPEDN mobile wallet app. (SPEDN is available in the iOS Apple store).”
“In addition, all cryptocurrency you deposit on the SPEDN mobile app is custodied with Gemini, providing security for those using this new payment technology.”
Since the update of the partnership and news of places being able to accept numerous different cryptocurrencies, there have been many articles written about the subject. There is a lot of excitement from those who really want to be able to use their crypto as a form of payment at places they normally shop and buy things. I’m sure retailers are also excited about minimum to no transaction fees for processing. However there is also some criticism about the SPEDN app from those who wish to stick to the Bitcoin core ethos. I personally believe it’s a step in the right direction and am excited to be able to buy things with crypto. What are your thoughts on being able to buy things with Bitcoin and other cryptocurrencies at major retailers? Let me know your thoughts in the comments below.
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Jason Franklin is a forward thinker, servant leader, technology enthusiast and humanitarian. His mission is to make a positive impact on humanity and the world a better place.
Jason is involved in technology, startups, energy, real estate, science, philosophy, volunteering and outreach.
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