Barclays: Ends partnership with Coinbase

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Barclays: Ends partnership with Coinbase

Barclays: UK bank, ceased its services to US-based cryptocurrency exchange, Coinbase

  • Announced that Barclays Bank in the U.K. cut off cryptocurrency exchange Coinbase as a customer
  • For Coinbase the loss means it no longer has access to the UK Faster Payments Scheme (FPS)
  • FPS also allows customers to instantly withdraw and deposit sterling on its platform
  • The crypto exchange is now looking to replace Barclays with UK challenger ClearBank
  • ClearBank will also reinstate its FPS access by the end of the third quarter
  • The move ends a relationship, made it easier for users to buy cryptocurrencies with pounds and withdraw their funds