Coinbase to offer crypto transactions supported by the British pound

Thursday 2 August 2018 10:24 CET | News

Coinbase, a large crypto exchange, has started to offer deposits and withdrawals denominated in the British pound (GBP).

The exchange’s UK division will now offer same-day deposits and withdrawals from the platform, allowing transfers to happen almost immediately. This system will replace the previous method, which had customers convert cryptocurrencies into euros before converting a second time into pounds.

Moreover, the old process took several days, an aspect that the new process will skip altogether. Also, 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.

The rollout of this new system is ongoing. Several customers already have access to GBP wallets, and all UK customers will receive access over the next few weeks. More broadly, the exchange is working on expanding its services in both the UK and the EU, citing the e-money license the exchange received earlier in 2018.

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Keywords: Coinbase, Bitcoin, Ethereum, blockchain, cryptocurrency, fees, transactions , mobile apps, UK, British pound
Countries: World

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