Coinbase: e-money service changes after Brexit
Coinbase: e-money service changes after Brexit
Crypto

Coinbase: e-money service changes after Brexit

By Amelia Tomasicchio - 24 Jan 2020

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Coinbase today sent a new email to all registered users to inform them about changes in their e-money service as a result of Brexit.

Since the UK will leave the European Union on 31st January, Coinbase, which has its own registered e-money service in the UK, will change banks, switching to the Central Bank of Ireland.

Obviously, this change will not entail any kind of loss for users, but out of transparency, Coinbase wanted to communicate the change of bank.

For some time now, the Coinbase exchange had been informing users occasionally that there would be changes in the event of Brexit

Recently, Coinbase UK had announced support for new assets including DAI, EOS, Tezos (XTZ) and Chainlink (LINK), which were added to the other cryptocurrencies previously listed, namely Basic Attention Token (BAT), 0x (ZRX), Augur (REP), Stellar (XLM) and Ripple (XRP). In early January, XRP had recorded an unbelievable price record of $8000, probably due to a trader who misplaced a purchase order.

Moreover, a few months ago, Coinbase had to remove the dApps from its iOS application because it seems that Apple has decided to completely eliminate the use of dApps from its App Store, perhaps for fear of scam or too much competition.

The Coinbase Custody service

Another interesting news that has seen Coinbase involved is its custody service and their client Grayscale Investments, which has become the first crypto investment vehicle to be approved by the US SEC.

According to research conducted by Grayscale Investments, it seems that institutional money has entered the bitcoin and cryptocurrency markets.

In the fourth quarter of 2019, in fact, total investments in Grayscale’s financial products rose to $607.7 million, with an average weekly investment of $11.7 million, including $9.1 million in the Grayscale Bitcoin Trust.

 

Amelia Tomasicchio
Amelia Tomasicchio

As expert in digital marketing, Amelia began working in the fintech sector in 2014 after writing her thesis on Bitcoin technology. Previously author for Cointelegraph and CMO at Eido. She is now the co-founder and editor-in-chief of The Cryptonomist.

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