US-based cryptocurrency exchange Coinbase Pro has announced expanded support for British Pound (GBP) to its UK-based customers, by adding four new pairs.
Coinbase Pro had added support for GBP on their platform in early August to help easier and faster trading in cryptocurrencies such as Bitcoin for its UK-based customers. It had initially supported BTC-GBP pair only.
The exchange now added GBP pairs with Ethereum (ETH), Ethereum Classic (ETC), Litecoin (LTC) and Bitcoin Cash (BCH). All UK customers can also now have access to send GBP to their Coinbase accounts via domestic bank transfer.
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, supported by all major UK banks. It was granted license by the UK's financial regulator Financial Conduct Authority (FCA).
These actions 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 are able to transfer pound sterling on the same day to use it to directly buy and sell these cryptocurrencies.
U.K. continues to be Coinbase's largest market for cryptos in Europe since 2014.
In mid-July, Coinbase had announced plans to work with local banks and regulators to explore the possibility of adding five more new crypto assets for trading in as many jurisdictions as possible. Coinbase aims to add Cardano (ADA), Basic Attention Token (BAT), Stellar Lumens (XLM), Zcash (ZEC), and 0x (ZRX).
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