Coinbase Adds British Pound Support, Customers to Buy/Sell Crypto via UK Banks

August 2, 2018
71 Views


Major U.S. crypto exchange and wallet Coinbase has started rolling out British pound (GBP) support, according to an official blog post August 1.

The new feature will enable Coinbase customers with UK bank accounts to conduct faster transfers, letting customers buy and sell crypto for pounds within the same day.

As Coinbase points out in their announcement, prior to adding GBP support, the process of buying or selling crypto for fiat took several days for the company’s UK customers, requiring them to first convert their crypto into euros, and then into GBP via international wire transfer.

The feature is currently available to only some existing customers, with the service promising to gradually rolled out support to all British customers “in the coming weeks.”

In their announcement, Coinbase notes that the company has been working on adding GBP support “over the last few months.”

In March, the company was granted an e-money license for fiat money operations from the UK’s Financial Conduct Authority (FCA). It also gained access to the UK’s Faster Payments Scheme (FPS), a UK banking initiative aimed at reducing transaction times.

In July, Coinbase reversed its previous statement that it had obtained U.S. Securities and Exchange Commission (SEC) permission for listing crypto tokens considered to be securities under U.S. law. The platform revealed that neither the SEC nor the Financial Industry Regulatory Authority (FINRA) had in fact approved Coinbase to act as a securities dealer, as had been previously reported.

Earlier in July, the company announced that it is considering listing five new cryptocurrencies on its platform, including Cardano (ADA), Basic Attention Token (BAT), Stellar Lumens (XLM), Zcash (ZEC), and 0x (ZRX).





Source link

You may be interested

Cryptocurrencies Prices Today, October 16: Cryptocurrencies Are on the Border of the Red and Green Zones
Litecoin News
14 views
Litecoin News
14 views

Cryptocurrencies Prices Today, October 16: Cryptocurrencies Are on the Border of the Red and Green Zones

Editor - October 16, 2018

[ad_1] Cryptocurrencies Prices Today, October 16: Cryptocurrencies Are on the Border of the Red and Green Zones  The Coin SharkFull coverage…

Blockchain News
13 views

Unblocking the Blockchain: Innovations Revolutionizing the Energy and Industrial Sectors

Editor - October 16, 2018

[ad_1] Unblocking the Blockchain: Innovations Revolutionizing the Energy and Industrial Sectors  PR Newswire (press release)Full coverage [ad_2] Source link

Adam White Exits Coinbase for New Role with Bakkt
Coinbase News
14 views
Coinbase News
14 views

Adam White Exits Coinbase for New Role with Bakkt

Editor - October 16, 2018

[ad_1] Former Coinbase employee Adam White has left the exchange he’s worked so hard to build to join Bakkt –…

Leave a Comment

Your email address will not be published.