Coinbase Provides British Pound Support
Coinbase announced in a blog post this week that it will now provide British Pound support (GBP). The platform’s customers with bank accounts in the United Kingdom will be able to conduct transactions more quickly.
The transactions can include buying or selling crypto for pounds and all in the same day.
Starting today, Coinbase customers in the UK will be able to seamlessly move GBP in and out of their accounts using the Faster Payments service. In most cases, this will mean almost instant access to funds. 🇬🇧https://t.co/67DMjc6y89
— Coinbase (@coinbase) August 1, 2018
The shortened time is significant, especially because normally, such transactions take several days for customers. Further, the Coinbase process was not straightforward. Rather, customers needed to convert crypto to Euros and then to GBP through an international wire transfer.
At this point though, only some existing customers can use the new feature. Coinbase is working to make it available to all customers over the course of the coming weeks.