Major crypto exchange gets e-money license & seals banking deal with Barclays

Coinbase, one of the world’s largest exchanges for crypto-trading, has received a permit for services from the UK regulator and obtained a bank account at one of the biggest European lenders, Barclays.

The step, which marks the first act of major cooperation between the British bank and the cryptocurrency exchange, is aimed at easing access to Coinbase products for UK users, the company said.

Coinbase, which has nearly 12 million users, got an e-money license from the UK’s Financial Conduct Authority. The permit enables the firm to provide payment services and issue digital cash alternatives that can be used for card, internet or phone payments. Coinbase also added support for the Faster Payments Scheme (FPS).