Coinbase expands GBP trading

Posted 06 September, 2018

US-based Coinbase will expand the list of GBP trading pairs beginning from September 7.

According to the company blog post, with these measures GBP will be traded not only vs bitcoin, but also Ethereum, Bitcoin Cash, Ethereum Classic and Litecoin.

"With support for UK domestic bank transfers in GBP via the Faster Payments Scheme, it is now significantly easier, faster and cheaper for UK customers to trade cryptocurrencies on the Coinbase platform," according to the statement.

It is worth mentioning, there will be three modes: traders will have at least 10 minutes to place orders until achieving enough liquidity. After that, order books will start matching limited orders, and the final stage – full trading.

As the company representative said:

"If at any point one of the new order books does not meet our assessment for a healthy and orderly market, we may keep the book in one stage (as identified below) for a longer period of time, or suspend trading..."

Following the green light for e-money services received from the UK Financial Services Authority this March, Coinbase announced last month that it intended to put into operational service for GBP deposit/withdrawals via  Faster Payments Scheme. As a result, traders no longer need to convert sterling into euro.

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