Coinbase Pro Launches Crypto Trading Support Using British Pounds

On Sept. 7, Coinbase Pro will launch cryptocurrency trading support for its U.K.-based customers.

Coinbase Pro will introduce Ethereum, Ethereum Classic, Litecoin and Bitcoin Cash trading support using British pounds, according to a blog post.

Trading pairs for Bitcoin and GBP already exist on the platform, and through the Faster Payments Scheme, Coinbase Pro has made U.K.-domestic bank transfers more efficient and affordable for traders.

Coinbase Pro is currently the only digital assets trading platform to support U.K. Faster Payments.

The U.K. trading support launch will take place in three stages-post-only, limit-only and full trading-and will be subject to suspension if the new order books don't meet assessment standards.

Coinbase has advised users to follow its Twitter page for live updates during the launch.

Earlier this month, Coinbase acquired digital identity startup Distributed Systems and filed a patent for a direct bitcoin payments system.

Under the terms of the agreement, Distributed System's five-person team will merge with Coinbase and begin working on the company's new Coinbase Wallet.

On Aug. 14, Coinbase filed a patent application for a direct bitcoin payments system to solve the security issues surrounding direct bitcoin wallet.

Coinbase plans to employ a "Key ceremony" system to integrate key shares with operational master keys for encrypted, sovereign merchant transactions.