Home coin news Coinbase Opens Account With Barclays Bank

Coinbase Opens Account With Barclays Bank

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COINBASE has open an account with Barclays and this has been hailed as a major accomplishment by Coinbase, who have described the deal as comprising the first partnership between a major U.K bank and a cryptocurrency exchange. 


Zeeshan Feroz, The U.K chief executive officer of Coinbase said:

“Having domestic GBP payments with Barclays reduces the cost, improves the customer experience…and makes the transaction faster,” adding “We believe that this is an important step towards our commitment to making cryptocurrency accessible to everyone.”

This announcement is coming shortly after Coinbase was granted an E-money license by the UK Financial Conduct Authority sometime last two weeks. The license grants Coinbase access to the Faster Payments Scheme, which will streamline the processing withdrawing and depositing fiat currency with Coinbase for the company’s U.K customers.

See Also: Cryptocurrency not a risk to world financial stability – G20

Mr. Feroz Further said:

“U.K. customers will benefit from faster, safer and seamless bank transfers. We will start with a pilot, giving a small number of institutional users access to Faster Payments. In the coming weeks, we will begin rolling out to all U.K. customers, making the Coinbase experience increasingly easier.”

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