Now transfers of fiat currencies on the trading floor take several days, although before that they took place almost instantly. The company expects to be able to return to normal operation before the end of the third quarter
Barclays Bank has ceased to cooperate with the Coinbase cryptocurrency exchange, according to CoinDesk sources. The reasons for the termination of work remain unknown. According to the publication, the trading platform has already entered into a partnership with ClearBank, but this has seriously affected some services.
Now, exchange customers cannot immediately deposit or withdraw fiat money; this procedure takes several days. Earlier in Coinbase, this was possible due to the work with the British payment system Faster Payments through Barclays. The company expects cooperation with ClearBank to return access to the system before the end of the third quarter of this year.
Coinbase is licensed by the UK Financial Regulatory and Supervisory Authority to provide electronic payment services. The site opened an account with Barclays at the beginning of last year. According to one version, the bank broke off cooperation after the completion of the pilot program, under which the platform gained access to the services of a financial institution.