Coinbase launches fiat withdraw/deposit service for UK clients

Posted 02 August, 2018

UK clients of US-based Coinbase exchange are now able to deposit/withdraw funds in the sterling terms.

According to the company blog, with the new service, the UK users now can enjoy fast transactions in the local fiat. For reference, earlier clients had to convert cryptocurrencies in euro and only then in the sterling.

"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," the company statement reads.

In addition, the company keeps taking measures following its target to become the most trusted platform on the market. Specifically, Coinbase has already received FCA's license for fiat operations, joined the Faster Payment Scheme.

Notably, some British clients have reportedly got GBP wallets already now, and others will receive access within the next few weeks.

"Coinbase, Coinbase Pro and Coinbase Prime GBP support is now live for some of our existing customers, and we will continue rolling this out to all UK customers in the coming weeks," stated the company CEO Coinbase UK.

In the long run, the company intends to expand services in the UK and EU benefiting from the e-money license that was granted in 2018.

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02 August, 2018 15:26

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Indian police clears fraud crypto company

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