Coinbase gets e-Money License from UK FCA

[abhinav94]

In its latest announcement, Coinbase has received the e-money license from the Financial Conduct Authority of the UK that involves regulation compliance. This move will help the exchange in expanding its business in UK and EU.

This e-money license will help in faster payments that will further simplify the process of adding and withdrawing money from the exchange. The CEO of UK Coinbase, Zeeshan Feroz explained:

“U.K. customers will benefit from faster, safer and seamless bank transfers. We will start with a pilot, giving a small number of institutional users access to Faster Payments. In the coming weeks, we will begin rolling out to all U.K. customers, making the Coinbase experience increasingly easier.”

Source: https://coingape.com/uk-fca-grants-coinbase-e-money-license/

[bitart]

Coinbase will become a real bank, sooner or later... with all the KYC and AML regulations, this is why it will be easier (and quicker) to handle the fiat transactions in the future. At least, they have the customer base, so they only need to fine tune their service based on their experiences. They will not become a real bank, of course, because this is only an e-money licence, but if it's enough for them to do the business electronically, they can become a leader among the e-money issuers, thanks to the existing and wide user base.

[dreamteam17]

excellent! just wonderful!