Coinbase Announces Support for GBP to Enable Faster Payments for UK Customers

Digital currency exchange platform Coinbase, recently, on August 1, officially announced that their customers from the UK now will be able to use Great British Pound (GBP) on their platform as the new currency has been officially supported, as of now.    

According to the announcement, the support of the new fiat currency was added by the major platform in order to facilitate swifter payments of deposits and withdrawals in the way that those would take place during the same exchange day. Hence starting from now, the exchange platform can easily reach any British bank accounts directly.

The official message on their Twitter account stated: “starting today, Coinbase customers in the UK will be able to seamlessly move GBP in and out of their accounts using Faster Payments service. In most cases, this will mean almost instant access to funds”.

The information also confirmed that the major exchanger will make the new support possible to the three main type of customers of coin base including Coinbase, Coinbase pro (active traders) and Prime (institutions).

Before the new support of the GPB, the platform would offer trading in such major cryptocurrencies as Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and Bitcoin Cash (BCH) into Euros. After the main transaction into Euro would be completed, the amount would then be converted to GBP via International Bank Transfer. The entire process hence would take significantly longer time to process and be completed for the customers.   

The company stated in their blog: “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”.

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