Starting August 2, Coinbase began rolling out British pound (GBP) support for UK-based customers of Coinbase (individuals), Coinbase Pro (active traders) and Coinbase Prime (institutions).
On September 5, a crypto exchange Coinbase Pro announced support for trading Bitcoin, Ethereum and other cryptocurrencies using British Pounds (GBP).
According to the announcement, a number of new GBP trading pairs will be available starting at 9am BST, September 7.
The new pairs that Coinbase Pro is launching are: ETH–GBP, ETC–GBP, LTC–GBP and BCH–GBP. Coinbase Pro already supports BTC–GBP.
There will be three stages to the launch. Each phase will be announced in real time via Coinbase Pro’s Twitter.
If at any point one of the new order books does not meet the assessment for a healthy and orderly market, Coinbase Pro may keep the book in one stage for a longer period of time, or suspend trading as per its Trading Rules.
Stages:
- Post-only. In the first stage, customers can post limit orders but there will be no matches (completed orders). Order books will be in post-only mode for a minimum of 10 minutes.
- Limit-only. In the second stage, limit orders will start matching but customers are unable to submit market orders. Order books will be in limit-only mode for a minimum of 10 minutes.
- Full trading. In the final stage, full trading services will be available, including limit, market, and stop orders.
According the announcement, with support for UK domestic bank transfers in GBP via the Faster Payments Scheme, it is now significantly easier, faster and cheaper for UK customers to trade cryptocurrencies on the Coinbase platform. Coinbase Pro is the only major digital currency trading platform that supports UK Faster Payments.
