Coinbase has opened up its full suite of services, including its bitcoin exchange launched earlier this year, to UK clients.
UK clients will be able to use three types of fiat in their accounts: GBP, EUR and USD. GBP and EUR can be moved using the Single European Payments Area (SEPA) services, while USD can be wired.
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Over the past months, Coinbase had been expanding its services to Europe. It had been catering to 23 countries in the region, but noticeably absent from the list was the UK – the region’s leading financial center. Now, in addition to support for wallet, merchant support and bitcoin buying services, the UK is the only country outside the U.S. where Coinbase’s exchange is available.
GBP-based trading offerings are hard to come by in the UK, although admittedly, demand may not be as high as in other regions. It will be interesting to see if there will be an uptick in local demand now that one of most reputable offerings is available.
The move is well-timed with recent announcements from UK regulators of their intention to regulate digital currency, including the application of anti-money laundering rules to exchanges. Also announced was a £10 million funding for research into the area in conjunction with local industry groups.