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Coinbase Inc., one of the largest cryptocurrency exchanges in the world, has been granted permission from the Financial Conduct Authority (FCA) to create and market e-money or more familiar to electronic money.
On Wednesday, 14/3/2018, Coinbase has opened an account at Barclays Plc to make it easier for its clients to save or withdraw their money.
The permission granted by the United Kingdom's financial authorities to Coinbase includes a payment service provider's license. Therefore, it allows Coinbase to expand its partnership with other companies. The rights granted by the British financial services authority will also include more than 20 other EU countries.
Coinbase's main business based in San Francisco, USA is helping investors in buying and selling Bitcoin, as well as other major virtual currencies. The Coinbase report suggests that businesses in the EU are growing at twice the rate of the market.
After obtaining the permit, Coinbase will expand its customer base by beginning to support institutional customer transactions.