Amazon banks on digital currency

SEATTLE — Amazon has launched its own currency, which customers will be able to use to purchase apps, games and in-app items from the Amazon Appstore and on Kindle Fire.

To celebrate the launch, existing and new Kindle Fire customers in the U.S. have had 500 free Coins — a $5 value — deposited into their Amazon accounts.

Amazon Coins makes it convenient for consumers to purchase apps and in-app items on Kindle Fire, but it’s also another opportunity for developers to drive traffic, downloads and increased monetization. Customers also receive incentives for purchasing the digital currency in bulk, with discounts of up to 10%.

“Today we are giving Kindle Fire owners $5 worth of Coins to spend on new apps and games, or to purchase in-app items, such as recipes in iCookbook, song collections in SongPop or mighty falcon bundles in Angry Birds Star Wars. And with discounts of up to 10% when you buy Coins, this is a great way for customers to save money when they buy apps, games and in-app items,” said Mike George, VP of apps and games at Amazon. “We will continue to add more ways to earn and spend Coins on a wider range of content and activities — today is Day One for Coins.”