Coinbase, a leading Bitcoin payment processor and the first licensed Bitcoin exchange in the US, opened an exchange and online bitcoin wallet service in the UK on Tuesday.
Coinbase enters one of the financial capitals of the world in the UK as the San Francisco-based company now allows people to transfer from GBP into bitcoins and vice versa.
The timing of the announcement is fitting for a couple of reasons.
For one, just last month Britain announced it would regulate digital currencies in “constructive” ways, placing exchanges under anti-money laundering and know your customer regulations.
Coinbase also raised a very significant $75 million in recent months and years, including the New York Stock Exchange, USAA Bank, and Spanish baking group BBVA.
According to Coinbase, customers in the UK can now complete the following transactions:
- Credit Euros (via SEPA), British Pounds and US Dollars (via wire transfer) to their Coinbase Wallet to purchase bitcoin from Coinbase or to trade with on Coinbase Exchange.
- Trade BTC/USD, BTC/GBP, and BTC/EUR currency pairs on Coinbase Exchange.
- Use our full suite of Coinbase Wallet services, including hosted bitcoin wallets, buy/sell service, and merchant tools.
“Our mission at Coinbase is to make payments more open and efficient around the world,” reads the company’s press release about the new UK services.
“Expanding to the UK is an important step towards that goal and will make it easier to access bitcoin in one of the financial capitals of the world.”