Cryptocurrency exchange Coinbase is working with TrueLayer on open banking enabled payments.
Coinbase aims to achieve “near-instant” deposits for all UK users in the next few weeks.
Open banking will enable users to make deposits into their Coinbase accounts.
This will be supported by open banking provider TrueLayer.
What does this mean?
This signals success for TrueLayer to gain such a large client during turbulent times for the FinTech sector, and suggests there is also demand for users to deposit money into their cryptocurrency exchange accounts, despite the “crypto winter”.