Coinbase, one the largest cryptocurrency exchanges in the USA, has recently announced that it will start supporting GBP (British pound) in the near future. This statement means that the UK citizens will be able to purchase cryptocurrencies with the help of British bank accounts. The statement also emphasizes that crypto users had to wait a few days due to a long process of converting GPB into Euro. Nowadays buy and sell functions will be carried out within a day.
Moreover, there is a chance that the British banks will also start supporting the cryptocurrency industry and facilitate its development in the UK. So far a new Coinbase feature is available to a limited number of users, but the function will be open for all UK users by September. Adding a new trading pair took Coinbase team several months.
“We’ve worked hard over the last few months to add GBP support for Coinbase customers across several of our product offerings in the UK. We’ve also taken major strides towards our goal of making Coinbase the most trusted and compliant brand in the space. These steps include obtaining an e-money license for our fiat operations from the Financial Conduct Authority (FCA), adding support for the Faster Payment Scheme, and becoming the first cryptocurrency trading platform to obtain a bank account with a major UK bank.”