Can You Buy Coffee With Nvidia Stock? Major Crypto Exchange Launches New App!
With its Gate Money app, which brings crypto, stocks, and gold together in one account, Gate aims to let users make everyday purchases with a card using their investments.
In an interview with CoinDesk ahead of the app’s launch in Singapore, Gate founder and CEO Lin Han said the app is built around holding and converting different assets, such as cash, cryptocurrency, stocks, and gold, in a single account. The goal is to turn an investment account into a money account that can also be used for everyday payments.
The example of buying coffee with Nvidia stock
Han explained how the model differs for users with the words, “You can buy a cup of coffee with Nvidia stock.” He was describing how users can make card purchases using assets they hold, without needing to keep a separate cash balance in their account before paying.
Gate plans to allow conversions between assets outside regular market hours as well. However, Han did not provide details on how conversions would be priced or carried out when stock markets are closed. So the Nvidia example reflects the use case the company is promising; it is not yet clear how assets would be converted behind the scenes at the time of payment.
The target audience is not just crypto investors
Gate, which the article says has more than 60 million users, wants to reach people beyond professional traders with the new app. Han believes one of the biggest areas for growth is among customers who do not yet use crypto.
According to the CEO, Asia could be one of the service’s biggest markets. Han said some users in the region have difficulty accessing U.S. stocks because their access to international brokerage accounts is limited.
Revolut and Wise are also among the competitors
Gate sees not only other crypto exchanges but also money apps such as Revolut, Cash App, and Wise as direct competitors in this space. Han’s approach is based on making crypto a feature of an everyday financial account rather than a separate trading activity.
Companies such as Coinbase, Bybit, and Binance are also moving toward more comprehensive financial apps, shifting competition among exchanges beyond trading screens.