Coinbase Resumes Real-Time Payments in the UK

Bank Coinbase Exchange UK

Author

Linas Kmieliauskas

Author

Linas Kmieliauskas

Author Profile

Share

Copied

Last updated: 

June 26, 2023

Why Trust Cryptonews

Cryptonews has covered the cryptocurrency industry topics since 2017, aiming to provide informative insights to our readers. Our journalists and analysts have extensive experience in market analysis and blockchain technologies. We strive to maintain high editorial standards, focusing on factual accuracy and balanced reporting across all areas - from cryptocurrencies and blockchain projects to industry events, products, and technological developments. Our ongoing presence in the industry reflects our commitment to delivering relevant information in the evolving world of digital assets. Read more about Cryptonews

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.

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.