Today it was announced that the worlds most popular fiat based crypto exchange has opened an account at UK bank Barcleys. This marks the first partnership between any UK bank and exchange.
Earlier this year we saw banks like Lloyds and RBS reject payments related to cryptocurency accounts over claims that they were "protecting customers".
Today Coinbase was also granted an e-money licence by the Financial Conduct Authority (FCA) which will allow for faster payments on the platform. This also offers some protection for client funds. Any fiat stored with the company will now be protected in case the company ever shuts down shop.
The FCA licence also extends into 23 EU countries however, with BREXIT looming it is unclear if this extension will still be valid following the "divorce".
The UK has always been a superpower for financial services and it is clear that if it is to stay relevent post BREXIT then taking the lead in crypto adoption would be a smart move.
You can read the full article here: https://techcrunch.com/2018/03/13/coinbase-emoney/
https://www.coindesk.com/coinbase-receives-e-money-license-from-u-k-financial-regulator/
