One of the world’s largest cryptocurrency companies Coinbase has signed a partnership agreement with one of the UK’s largest banks – Barclays.
Coinbase, one of the largest cryptanalytic platforms worldwide, announced that it successfully opened a Bank account in the largest British Bank Barclays. According to CNBC, most British banks refrain from doing business with companies associated with crypto-currency in General, because of concerns that cryptocurrencies are associated with illegal activities.
Coinbase and Barclays
Coinbase believes that the new partnership with Barclays will make trading bitcoin and other cryptocurrencies is much easier and faster for British investors and traders. To partnerships British users of the cryptocurrency exchange had to wait a couple of days before the funds will be credited to their Bank accounts. The Director General of the British division of Coinbase Zeeshan Feroz said in comments to CNBC :
Customers from U. K will be able to make quick, secure wire transfers without problems. We will start with a pilot project, providing a small number of institutional users access to Faster Payments. In the coming weeks we will start deploying the service to all customers from the UK, which will facilitate their work with Coinbase,
Coinbase in the European market
The new partnership with Barclays is not the only success of Coinbase in Europe. Recently, we reported that Coinbase was also able to obtain a license for the electronic money from the British regulator (FCA).
The license also allows the exchanger to work with the British payments system (FPS).