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News- Hundreds of top UK shops are apparently going to provide bitcoin rebates as part of a new loyalty program starting next year
- This is a significant step toward making the asset class more accessible to people of all ages and backgrounds, putting bitcoin in the hands of millions of people throughout the UK
- The cosmetics and pharmaceutical behemoth also separated itself from a similar rewards program launched by cryptocurrency platform CoinCorner last year
Hundreds of top UK shops are apparently going to provide bitcoin rebates as part of a new loyalty program starting next year. According to City AM, the bitcoin cashback option will be powered by fintech startup Mode and would allow clients to earn crypto rewards of up to 10% for buying online at partner retailers.
He is ecstatic to announce the launch of our Bitcoin Cashback service as a separate product after the overwhelmingly positive reaction from our consumers and the growing interest in cryptocurrencies, said Mode CEO Ryan Moore.
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This is a significant step toward making the asset class more accessible to people of all ages and backgrounds, putting bitcoin in the hands of millions of people throughout the UK. Bitcoin’s price has more than quadrupled since the beginning of the year, and it now trades for approximately $60,000. In an early press release, Boots and Ocado were included among the shops, along with Homebase; however, the companies have subsequently distanced themselves from the effort.
The cosmetics and pharmaceutical behemoth also separated itself from a similar rewards programme launched by cryptocurrency platform CoinCorner last year. They recently lost Boots as a bitcoin cashback partner as a result of the Mode app launch, Molly Spiers, CoinCorner’s head of marketing, stated.
They have had no difficulties with CoinCorner’s partnership with Boots for over a year; they’re one of their most popular merchants. Why are blanket restrictions on bitcoin companies still in place?
Ms. Spiers published an email she said came from Boots, in which the company stated that it does not now wish to collaborate with bitcoin publishers but added that if anything changes in the future, we will re invite you to the program. The Independent reached out to Boots for comment, but they did not answer right away.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
