Coinbase Now Supports GBP Transfers for U.K. Customers


San Francisco-based crypto giant Coinbase has reportedly started rolling out British pound (GBP) support for customers across its many trading platforms.

According to the announcement, which was written by Coinbase UK CEO Zeeshan Feroz, Coinbase, Coinbase Pro and Coinbase Prime users can now take advantage of same-day deposits and withdrawals from Coinbase to British bank accounts.

Faster payments will benefit all UK customers, enabling almost immediate transfers. This is essential for Coinbase Pro and Coinbase Prime customers in particular who will now be able to transfer funds quickly.

Prior to the GBP support, the process of funding and withdrawing from a Coinbase account took days, as users were forced to convert their digital currencies into euros and then into pound sterling via international bank transfer.

This news comes just days after Coinbase announced the addition of a new Chief Compliance Officer, as part of an effort to improve trust and compliance with regulators both in and outside of the United States. Additionally, Coinbase recently revealed a new feature that allows European customers to cash out their cryptocurrency in the form of digital gift cards.

These all collectively indicate that Coinbase is taking the European market seriously, and will likely look to compete with established firms like Revolut and eToro.

More: Buying bitcoin, ethereum and other cryptocurrencies with British pounds (GBP) just got easier and faster for Coinbase customers in the UK
Similar: Coinbase Adds New Chief Compliance Officer to Build Trust

Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.

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