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The company is expanding its presence in the UK, rivals Huobi on the British market.

One of the largest cryptocurrency exchanges – Coinbase, has announced in a public blog post that the company is opening trades, which could be exchanged for British pounds (GBP). The news comes shortly after a deal between Coinbase and one of the largest UK-based banks – Barclays, has been made, allowing users to gain access to Barclay’s Faster Payments network.

UK-based residents can now trade Ethereum /ETH/, Ethereum Classic /ETC/, Bitcoin Cash /BCH/ and Litecoin /LTC/, as well as Bitcoin /BTC/.

“With this agreement, Coinbase gives its UK clients the much needed support for domestic bank transfers over the Faster Payments protocol. Exchanging cryptocurrencies directly into GBP makes trading and payment much more easy, cheaper and a lot faster.”, Coinbase stated in their blog post.

Coinbase revolutionized the cryptocurrency exchange platform scene by utilizing the Faster Payments Scheme from Barclays. The deal makes withdrawals and deposits cost significantly less and the processing of bank account movements takes seconds.

From September 7th the Coinbase exchange platform is fully operational with GBP, but monitoring of transactions will continue, to ensure that everything works smoothly.

The United Kingdom has been one of the main targets for crypto exchanges, especially after one of China’s leading platforms – Huobi, opened a dedicated office in the heart of London in the end of June.

“We chose London as the first European office, because of UK’s history of being a global financial center and the biggest crypto exchanging scene in Europe. UK’s crypto market is blooming and the blockchain community is strong”, Huobi management reported in a press release.

The London-based office will be the main Coinbase hub in Europe. The team will focus on delivering native user experience and customer support.

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