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Coinbase Bitcoin

Coinbase establishes UK Bitcoin exchange and digital wallet service

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By John Glenday, Reporter

April 29, 2015 | 1 min read

Bitcoin payments have taken another step on the road to mass usage with an announcement by Bitcoin payment processor Coinbase that it intends to open a UK exchange and online wallet service.

The new facility will enable people to more easily convert Sterling to Bitcoins and vice versa, bolstering Britain’s efforts to be seen as a global hub for the crypto currency, according to Reuters.

This follows government efforts to introduce regulation of digital currencies to boost confidence in the system by applying existing anti-money laundering rules to such services.

It forms part of an expansion strategy by the San Francisco based firm following a successful $75m fundraising drive.

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