Coinbase, one of the world’s largest cryptocurrency exchanges and wallets, obtained a bank account with U.K. lender Barclays, the company said Wednesday, in a move that will make it easier for British customers to use its product.
The deal marks the first major partnership between a U.K. bank and a cryptocurrency exchange.
British lenders have distanced themselves from engaging with cryptocurrency companies and digital coins in general, because of their reputation of being used in illicit activity.
Coinbase, which has nearly 12 million users, also said it was granted an e-money license by the U.K. regulator the Financial Conduct Authority (FCA), and adds support for the Faster Payments Scheme (FPS).
