It seems to be a great news for the Coinbase customers in the UK, buying Bitcoin, Ethereum and other cryptocurrencies with British pounds (GBP) have got easier and faster.
As per the official announcement, the British Pound is now supported on the UK based Coinbase (individuals), Coinbase Prime (institutions) and Coinbase Pro (active traders).
Before converting Bitcoin, Ethereum, Bitcoin Cash, Litecoin into Euros and then again converting into pound through international banks used to incur a heavy cost and took several days. With the help of British pounds (GBP), users can easily transfer pound sterling and can easily use these coins for buying and selling purpose.
The team has really worked hard to bring GBP support for Coinbase users in the UK. The team has also taken several other major steps in order to make Coinbase the most entrusted and reliable platform in the space.
Some of the major steps included are added support for Faster Payment Scheme, getting permission for an e-money license convenient for their fiat operations from the Financial Conduct Authority (FCA).
Moreover, it also will be recognized as the first cryptocurrency exchange platform to have large numbers of bank account with recognized UK banks.
With the use of GBP, faster transactions can be done with minimum clicks, this will benefit the user of UK. The most important part is that it will definitely be useful for Coinbase Pro as well as for the Coinbase Prime as they will now be able to transact their funds within a limited time.
The sources have confirmed that currently for Coinbase, Coinbase Prime, and Coinbase Pro, GBP support is now made available for the existing customers and in coming weeks all the UK customers can avail this opportunity.
In any case, if a customer likes to get the support of GBP payment then they can visit coinbase.com to sign in into your account. In order to get more details about the Coinbase Pro, you can visit pro.coinbase.com and in case if any institution wants to get connected with Coinbase Prime, then kindly connect at prime.coinbase.com
It was really a tough task for the UK to manage this incredible support and the huge cost was also incurred. Hope this partnership is worth appreciating and proves to be a successful one.