Coinbase has partnered with Australian blockchain-based rewards platform, Shping to promote increased adoption of blockchain and cryptocurrency among Australian consumers.
The collaboration seeks to drive greater adoption of blockchain use cases by providing an easy entry point for consumers and further mainstreaming cryptocurrency as a means of payment and store of value.
A recent Finder report, in partnership with Coinbase, found that more than one quarter (27%) of the Australian population, equivalent to around 5.6 million people, have owned crypto in the last 12 months or are interested in owning crypto in the future.
As part of the initiative, Shping will run an incentive campaign encouraging its 300,000 users in Australia to link their accounts to Coinbase. This allows for seamless cryptocurrency withdrawals from rewards earned on the Shping platform, in the form of Shping tokens.
Coinbase will promote Shping’s Learn and Earn program, which provides educational resources on blockchain and cryptocurrency. By linking their accounts, Shping users will gain access to Coinbase’s educational resources and the ability to earn more rewards.
Coinbase managing director for Asia Pacific, John O’Loghlen said, “Our mission is to increase economic freedom worldwide, and this partnership is one step further in advancing that goal by bringing Australia’s consumers into the fold.
“Over one quarter of Australians have owned or are interested in owning crypto, and many believe that crypto has an important role to play in the economy. and. Together with Shping, we aim to update the financial system with fairer, cheaper, faster services. This partnership brings us closer to achieving our mission.”
Shping CEO, Gennady Volchek added, “Our mission is to democratise the retail space by connecting brands directly with end consumers, letting them bypass costly intermediaries and redirect funds to reward shoppers directly with a decentralised token of rewards (DeToR) for the value they create.
“By partnering with Coinbase, we solidify a trusted connection between the Shping platform and the global DeFi network, bringing retail consumers one step closer to economic freedom. This partnership also serves as a cornerstone in our future-proofed global expansion, ensuring a consistent and seamless user experience.”