The San Francisco-based cryptocurrency giant Coinbase mentioned wednesday that customers within the UK can currently purchase digital assets with British Pound.
The news is important because, until now, the company’s UK customers had to take care of their fiat funds in euros instead of pound sterling. This meant the method for purchasing Bitcoin and different digital currencies on Coinbase took many days and resulted in foreign exchange fees.
The upshot is British customers will currently be ready to perform same-day payments and withdrawals.
“UK banks have been conservative in terms of operating with crypto businesses and we’re proud to be one of the first companies to induce access to domestic banking,” said Zeeshan Feroz, the chief executive officer of Coinbase UK.
Coinbase’s support for British pounds (GBP) may also mean a better volume of cryptocurrency transactions in the uk, which is the world’s fifth biggest economy.
The company says it'll begin adding GBP trading pairs like GBP-Bitcoin and GBP-Ethereum in the returning weeks. These pairs are the instruments by which traders create bets on currency movements in global foreign exchange markets, and Coinbase expects the new offerings to be popular with professional traders.
In the last month, Coinbase has also advised it's getting ready to expand the quantity of digital assets it makes on the market to customers. Because of restrictive uncertainty, the company has to date only offered Bitcoin, Bitcoin cash, Ethereum, Ethereum Classic, and Litecoin.
In a recent blog post, Coinbase says it's contemplating the addition of Cardano, Basic Attention Token, 0x, Stellar Lumens, and Zcash. Given the tighter regulatory constraints, it's probably the company can begin giving these tokens first in the UK and Europe.
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