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Coinbase Resumes Real-Time Payments in the UK

Linas Kmieliauskas
Last updated: | 1 min read

Coinbase’s institutional and retail customers in the UK should soon be able to make deposits or withdrawals in less than 60 seconds again, as the company has found a new banking partner.

Source: iStock/lcva2

Zeeshan Feroz, the firm’s UK chief executive officer, confirmed to Bloomberg that the exchange resumes real-time payments in the UK. However, he did not comment on the new banking partners. According to a person familiar with the matter, Coinbase is now a client of ClearBank, one of the U.K. “challenger banks,” after it broke with Barclays three months ago.

In the past three months, transfers have taken considerably longer, sometimes days, with Coinbase offering a raft of alternatives from using PayPal accounts to buying digital assets with credit cards, according to the report.

Meanwhile, unconfirmed reports about the partnership with ClearBank first appeared in August. The media speculated that due to this partnership the UK branch of Coinbase had to delist Zcash, as the new partner is reportedly not willing to indirectly support privacy coins.