Leading cryptocurrency brokerage Coinbase announced the launch of GBP trading for UK-based customers, leveraging the platform's freshly-minted e-money license issued by the UK Financial Conduct Authority.
Having recently become the first cryptocurrency trading platform to obtain a bank account with a major UK-based bank, Coinbase now offers Coinbase Pro, and Coinbase Prime customers can make same-day deposits and withdrawals from the Coinbase platforms to UK bank accounts.
The addition of GBP support to the Coinbase platform will be rolled out in phases - some UK-based Coinbase customers are already able to access GBP wallets, while others may need to wait several weeks until functionally is made available.
"Customers will now be able to deposit and withdraw pound sterling and use it to directly buy and sell cryptocurrency - for the first time. Customers will not only benefit from increased speed, but reduced cost as well. By no longer having to convert funds from GBP to euros and vice versa to add and remove funds, there will be no more exchange rates."
Previously, UK-based Coinbase customers were required to rely on withdrawal and deposit methods that took several days, necessitating the conversion of cryptocurrencies into Euro, then Euro conversion into GBP - adding significant exchange costs to transactions.
The addition of direct GBP support to the Coinbase platform closes the gap between the fiat and cryptocurrency ecosystem, assisting with the expansion of a crypto/fiat bottleneck that currently functions as an obstacle to widespread adoption.
"Faster payments will benefit all UK customers, enabling almost immediate transfers. This is essential for Coinbase Pro and Coinbase Prime customers in particular who will now be able to transfer funds quickly."
The easiest way to stay current with the most important blockchain news and crypto insights.
Coinbase Launches GBP Support
pubblicato su Aug 3, 2018
by Cryptoslate | pubblicato su Coinage
Coinage
Notizie recenti
Vedi tutti
Blockchain Bites: Bitcoin's Run, Uniswap's Hemorrhaging Value, Anchorage's Banking Bid
Bitcoin is nearing all-time highs in price and market cap last set three years ago.
Japan's megabanks to lead experiment with digital yen
We have, in order, Cheese Bank with a $3.3 million theft, Akropolis with its $2 million loss, Value DeFi with a whopping $6 million exploit and finally Origin Protocol's loss of $7 million.
Number of new Bitcoin addresses spikes amid growing FOMO
Japan's three largest banks, as part of a group of 30 private sector actors, are set to collaborate on an experiment with a digital yen.
Not just Wall Street: Quant trader explains why Bitcoin price is going up
Sam Trabucco, a quantitative trader at Alameda Research, believes four general factors are pushing up the price of Bitcoin.