We called it yesterday! Flexa launches cryptocurrency app that allows you to spend cryptocurrencies at major American retailers! The app, rumored yesterday, was unveiled during the first day of the Consensus conference in New York City.
Flexa Co-Founder Tyler Spalding announced to attendees that Spedn is already live and confirmed retailers include Barnes & Noble, Bed Bath & Beyond, GameStop, Lowe’s, Nordstrom, Office Depot, and Whole Foods Market. Important to note is Amazon owns Whole Foods Market – could this be the beginning of one of the world’s largest retailers entering the market?
Spalding stated that Spedn’s goal is to make cryptocurrencies spendable everywhere while merchants receive payments exactly the way they have been.
Simplicity is what will drive the app and help usher in mass adoption – Flexa recognizes this, and in a nod to that ideal, transactions can be made in three simple steps: adding crypto to the Spedn wallet, tapping a supported brand, and scanning a code.
“If you want to buy some food, or maybe you want to go shop in the entertainment category, or maybe you also just want to find something for your home, or perhaps some clothing or accessories, all of these merchants are now live on the Flexa network as of today.”
Spalding clarified that the crypto purchases can be made using Bitcoin, Ether, Bitcoin Cash, as well as the Gemini Dollar, which is a Stablecoin. A partnership with the Winklevoss twin’s Gemini means that Spedn wallets are fully supported through the exchange’s infrastructure.
Flexa’s news release also noted that Spedn was the result of nearly a year and a half of work behind the scenes – key motivations included reduced processing fees and eliminating fraud for merchants. By making connections with retailers, crypto payments via debit cards was eliminated in favor of that direct connection.
Fifteen total brands have been listed as launch partners, including Baskin Robbins, Caribou Coffee, and Crate&Barrel. Flexa added that additional merchants will be forthcoming.
Although Spedn is only available to Consensus attendees initially, more invites are going to be released through the app itself.
More and more retailers are beginning to accept crypto. Whole Foods is owned by Amazon – could we see an even larger announcement within the year? Flexa launching a cryptocurrency app for retail purposes is big news. Let us know what you think on our Facebook page!