Coinbase Pro is launching a couple of new crypto trading pairs for British pounds (GBP) on Friday, 7th of September 2018 at 9 am BST, as per a Medium blog post by David Larmer, the General Manager of Coinbase Pro. The same has been conveyed by an official Twitter post by the company.
Coinbase Pro is an exchange for digital assets and aims to be ‘the most trusted platform for trading cryptocurrency.’ The USA-based exchange is currently among the top 10 cryptocurrency exchanges as per data available on Coinmarketcap with the thirty-day volume of $4.19 billion.
This latest development follows the announcement made by Coinbase Pro CEO Zeeshan Feroz earlier this month. He stated that the GBP support was live for some of its existing users and the company planned to expand these services for all its UK-based customers.
Apart from the existing BTC-GBP trading for the UK users, the exchange now supports ETH, ETC, LTC, and BCH trading pairs for GBP. As stated in the announcement, cryptocurrency trading will now be considerably “easier, faster and cheaper for UK customers.” These new pairs have been launched with the assistance provided by the Faster Payments Scheme that enables UK domestic bank transfers in GBP.
“Coinbase Pro is the only major digital currency trading platform that supports UK Faster Payments and it’s our goal to be the trading platform of choice for UK crypto traders.” shared Farmer, the General Manager at Coinbase Pro. “In advance of the launch of the new trading pairs, all UK customers now have access to send GBP to their Coinbase accounts via domestic bank transfer,” he further added.
The GBP trading pair service has been launched in three stages for each new order book independently which would be announced on the company’s official Twitter page. The first stage will allow posting of limit orders without any matching and will go on for at least 10 minutes. The second stage will provide matching services but customers will not be able to submit market orders for a minimum time of 10 minutes. Complete trading services will be available in the last phase, with limit, market and stop orders.