On Monday, the payment processing startup Flexa announced the release of its new custodial crypto wallet SPEDN, which allows users to spend bitcoin, ethereum, bitcoin cash or GUSD at a variety of brick-and-mortar retailers.
Flexa co-founder Trevor Filter told CoinDesk the wallet app works at Nordstrom, Barnes Noble, Express, Lowe’s, GameStop, Office Depot, Regal Cinemas and Jamba Juice, just to name a few.
In return, the app now provides a new way for stablecoin users to use GUSD beyond trading.
Indeed, Flexa co-founder Tyler Spalding told CoinDesk the ability to spend cryptocurrency can actually boost its function as a store of value.
For now, Flexa’s crypto exchange partnerships manage conversion on the backend.