One of the World’s largest cryptocurrency exchanges and wallets, Coinbase, has now an account with the UK Barclays bank.
With nearly 12 million users, Coinbase is a serious player in the cryptocurrency World. The new deal will further improve the client experience, by simplifying the deposit and withdrawal process, while decreasing the transaction times.
First, but not last
This is the first major deal between a cryptocurrency exchange and a UK bank. It will make it easier for British customers to use the platform.
Barclays is one of the largest UK banks to be open towards cryptocurrencies. Its Chief Executive, Ashok Vaswani, mentioned that talks with fintech firms were in progress about bringing cryptocurrencies “into play”.
“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,”
Zeeshan Feroz, CEO of Coinbase wrote on his blog.