As noted in the company's blog, thanks to cooperation with the service Faster Payments customers from the UK will now be able to carry out almost instant transactions with GBP.
According to the head of Coinbase U. K. Zishan Feroz, the new system will replace the old way, according to which customers had to convert cryptocurrencies into euros, and only then into pounds. It usually took a few days.
"For the first time, users will be able to enter / withdraw the pound sterling, as well as use it directly to buy cryptocurrency. Customers can not only appreciate the increased speed of operations, but also reduce costs. Thanks to getting rid of the need to convert GBP to Euro and Vice versa for depositing and withdrawing funds, they will no longer have to interact with exchange rates", — said Zishan Feroz.
Feroz also stressed that the new option is available for both institutional and private investors.
"This is a very important feature for traders and hedge funds who need to be able to open and close positions quickly," he added.
Let me remind you, thanks to the partnership of Coinbase and wegift startup, the clients of the American company will have the opportunity to convert cryptocurrencies into gift certificates.