US cryptocurrency exchange coinbase has found a new partner for faster payments in Britain.
In Brief:
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Coinbase can now provide real time payments for customers in Britain through Clearbank.
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It lost the ability to do so when its partnership with Barclays Plc ended in July.
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ClearBank is a direct participant of the UK’s faster payments system.
What does this mean?
Cryptocurrency firms have a hard time making deals with traditional banks and lenders, due in part to the compliance issues they bring about. Thanks to the deal with ClearBank, Coinbase customers – both individuals and companies – will be able to make deposits and withdrawals in less than a minute.
