“Barclays bank UK partners with Coinbase as it embraces cryptocurrencies
By Philip Maina @ crypto-lines.com
… Coinbase (..) has partnered with Barclays bank in the United Kingdom to provide the over 12 million Coinbase customers, many of whom are in the U.K, with an easier way to access their cryptocurrencies. (…)
In the past, Coinbase customers’ had to rely on an Estonian bank which saw the customers bare heavy exchange rates. (…) According to Coinbase CEO, UK, Zeeshan Feroz, the new arrangement will start by allowing a small group of institutional users being given faster payment access after which it will be rolled to the rest of Coinbase customers in the UK.
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This comes at a time when the British banks and regulators are struggling with regulations and the growing number of cryptocurrency investors. This was evident when Mark Carney, the governor, Bank of England, called for more regulations in the digital money field.
Coinbase was also issued with an e-money license by FCA which allows them to extend their services within the EU region to up to 23 countries.
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