The Coinbase cryptocurrency exchange has agreed a partnership with Barclays PLC (LON:BARC) which is expected to make it easier for UK-based traders to buy and sell digital currencies like Bitcoin and Ethereum.
It comes as Coinbase reportedly secured an ‘e-money’ licence from UK regulator, the Financial Conduct Authority.
Rolling out to all UK customers
The Coinbase platform is said to have some 12mln registered users and it is the first to be secure a formal agreement with a UK bank.
As a result of the new arrangements, it is expected that cryptocurrency traders will be able to use ‘faster payments’ services which will allow them much more flexibility when managing their accounts.
"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,” said Zeeshan Feroz, Coinbase chief executive.
“In the coming weeks, we will begin rolling out to all U.K. customers, making the Coinbase experience increasingly easier."