Coinbase, the leading platform for cryptocurrency trading, announced the addition of Pound Sterling as its payment method for buying and selling cryptocurrencies.
Coinbase, which is the most preferred platform for the cryptocurrency, has now started rolling out British Pound (GBP) support for its UK based customers of Coinbase, Coinbase Pro, and Coinbase Prime. This will enable faster payments with pound as well as same day withdrawals and deposits in the customer’s bank accounts.
Earlier it used to take several days for the cryptocurrency to transfer; first being converted to euros via international bank and then to pound sterling. This new step taken by the Coinbase is, as said by Coinbase U.K chief executive Zeeshan Feroz, a step towards becoming a primary bank account for all its users.
The company has taken major steps while working with the Financial Conduct Authority to obtain licenses for their fiat operations as well as adding Faster Payment Scheme. This has also given an additional benefit of reducing the transaction charges, which sometimes added up to 10 euros per transaction.
The company has started to roll out the support for its Coinbase, Coinbase Pro, and Coinbase Prime users and will soon be available to all of them in the coming weeks. The company boosted its market at almost double pace than any market in the last year and is making all efforts to increase its customer base as well as kick-start the dormant accounts. The company also stated of some more announcements which will be made in the near future.
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