Coinbase will now allow UK-based customers to buy and sell cryptocurrency using British Pounds (GBP). According to a blog post published by Zeeshan Feroz, CEO of Coinbase UK, customers will be able to complete their transactions within a day.
Faster payments will benefit all UK customers, enabling almost immediate high-limit transfers, essential for @CoinbasePro and Coinbase Prime (institutional) customers who will now be able to enter and exit their positions quickly.
— Coinbase (@coinbase) August 1, 2018
Feroz explained that Coinbase has taken major steps in order to make the company more reliable, “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.”
However, the feature is live for only a few customers at the moment. It will be made available for everyone else in the next few weeks.
Coinbase Roundup: July 2018
On July 25, Coinbase also launched the e-gift feature, in partnership with London-based gift card provider WeGift, for crypto users in the European Union (EU) and Australia. This card can be used at various online stores such as Nike, Marks & Spencer, Uber, Google Play, Ticketmaster, Carrefour and Costa with no transaction fees.
Coinbase also appointed Jeff Horowitz as the new compliance chief officer last month. “Hiring Jeff is recognition on our part that navigating compliance complexities on a global scale requires a concerted, cross-functional effort, guided by leaders with experience that spans policy, financial services, and corporate governance,” wrote Asiff Hirji, President and COO of Coinbase.
Earlier in July 2018, the company also launched Custody for customers in US and Europe. “Our goal with Coinbase Custody is to help dramatically accelerate the flow of institutional money into digital currencies over the coming years,” wrote Brian Armstrong, CEO and co-founder of Coinbase.
From interviewing women in crypto to funding blockchain startups, Coinbase is doing its best to create a positive image of cryptocurrencies all around the world.