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Coinbase Adds British Pound Support For UK-based Customers


US-based cryptocurrency exchange Coinbase added support for British Pound on their platform to help easier and faster trading in cryptocurrencies such as Bitcoin and Ethereum for its UK-based customers.

The facility will be open for UK-based individual customers of Coinbase, active trader of Coinbase Pro, and institutional traders of Coinbase Prime. This will enable same day deposits and withdrawals from Coinbase to British bank accounts.

Earlier, the customers had to wait several days for the process of converting Bitcoin, Bitcoin cash, Ethereum and Litecoin into euros and then into pound sterling, via international bank transfer.

Now, they will be able to transfer pound sterling on the same day to use it to directly buy and sell these cryptocurrencies.

Coinbase had announced plans in mid-July to work with local banks and regulators to explore the possibility of adding five more new crypto assets in as many jurisdictions as possible. Coinbase aims to add Cardano (ADA), Basic Attention Token (BAT), Stellar Lumens (XLM), Zcash (ZEC), and 0x (ZRX).

In mid-March, Coinbase became the first cryptocurrency exchange to open a UK bank account, receive e-money license and gain access to the UK's Faster Payments Scheme (FPS) for its UK-based customers, which is supported by all major UK banks. It was granted license by the UK's financial regulator Financial Conduct Authority (FCA).

U.K. continues to be Coinbase's largest market for cryptos in Europe since 2014.

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