Coinbase Announces New Trading Pairs for GBP as its Aims for UK Top Spot

Coinbase has confirmed that it will be integrating new crypto-fiat trading pairs for GBP from tomorrow – 9am BST, Friday 7th September, 2018.

Coinbase Pro announces support for trading bitcoin, ethereum and other cryptocurrencies using British Pounds (GBP) https://t.co/bY2WXQqXFt

— Coinbase Pro (@CoinbasePro) September 5, 2018

The announcement fulfils Coinbase’s earlier commitment to offer new GBP pairings in its bid to become the “exchange of choice” for British cryptocurrency traders. 

The new GBP pairings being rolled out cover Ethereum (ETH), Ethereum Classic (ETC), Litecoin (LTC) and Bitcoin Cash (BCH). The GBP-BTC pairing is already included amongst Coinbase’s current fiat-crypto offerings. 

 Coinbase UK Expansion

Coinbase, the US’ leading cryptocurrency platform and one of the world’s top ten platforms by trading volume, opened up its London office in March of 2017, and has since secured an e-money trading license from the UK’s Financial Conduct Authority. 

As a result, the outfit has been able to set up a UK-based bank account – claiming to be the first cryptocurrency platform to have done so – allowing it to offer reduced trading fees for UK-based users of its service. 

UK users can now transfer funds in and out of the Coinbase platform using the Faster Payments protocol which, according to UK CEO Zeeshan Feroz, is expected to facilitate a growing UK customer base. However, by its own admission, Coinbase’s latest GBP trading pairs will not enjoy its full range of services until sufficient demand for those services within the UK have been demonstrated.