Crypto enthusiasts in the UK have just received a big boost after news that the world’s most popular crypto exchange, Coinbase, would be rolling out British pound support for both Coinbase prime institutions and Coinbase pro Active traders. This will enable crypto enthusiasts in the UK to withdraw and send funds much quicker through their bank accounts. This will be a major improvement from their past system where customers had to convert ethereum, Bitcoin, Bitcoin cash and litecoin into British pounds first before making any transactions. The old system was not only annoyingly time-consuming but also, meant that customers were beholden to their bank’s exchange rate.
Coinbase CEO, Zeeshan Feroz, expressed delight as he broke the good news on twitter much to the delight of the UK crypto public. Coinbase CEO, Zeeshan Feroz, also added that the exchange had taken big steps to ensure that it became known as the most compliant and trusted entity in its niche. One of the strides taken was the securing of an e-money license from the financial conduct authority. The other important feat achieved by the exchange is becoming the first of its kind to secure an account with a major UK bank.
Coinbase seems to be making major headway compared to other platforms of its kind. They have weathered the challenges that have been presented ever since the dawn of Bitcoin and Altcoins and they seem to be coming out of it all quite unscathed. The terrific highs of 2017 had been preceded by a quite number of years since Bitcoins inception in 2009. The 2017 market boom has however been succeeded by a dull 2018 that has seen markets hit depressing lows. The lows have been hard not only on investors but also crypto exchanges like Coinbase. Regulatory bodies have also had their turn in taking blows at crypto with each passing pronouncement from the big regulator in China causing market dips.
One of the latter shockers came when internet giants including; search engine company Google, Facebook and Twitter decided to ban crypto adverts from their platforms which caused a great public uproar and public statements of protest from crypto exchanges. Recently Coinbase made an announcement that proved that they had crossed that hurdle by hinting at a possible partnership with Facebook. Facebook and Google also confirmed that they had lifted the ban they had earlier imposed on crypto adverts on their respective platforms.
It looks like Coinbase has been able to achieve a winning streak of sorts with the latest foray into the UK markets. The benefits that will be realized due to supporting the British pound on the platform will bring forth a revolution in the way UK customers transact.
