RATE Group | Blockchain.com Launches Pound Sterling Payments Gateway for Brexit-Bound Brits
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Blockchain.com Launches Pound Sterling Payments Gateway for Brexit-Bound Brits

21 Dec Blockchain.com Launches Pound Sterling Payments Gateway for Brexit-Bound Brits

Posted at 13:32h in Cryptocurrency News by

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United Kingdom-based cryptocurrency data and wallet provider Blockchain.com has added a British pound gateway to its crypto exchange, The Pit.

On Dec. 19, Xen Baynham-Herd — executive vice president of product at Blockchain — told Cointelegraph that with Brexit on the horizon, the exchange has seen a record number of first-time deposits from U.K. users.

The Pit’s new gateway will now allow users to purchase crypto using British pounds via the U.K.’s Fast Payments Scheme — an infrastructure designed to provide near-instant transaction settlement times for payments between different British banks. This should ostensibly significantly improve U.K. users’ deposit and withdrawal experience. 

Reducing frictions 

With the U.K. economy braced for its Brexit shock — now imminent following the recent electoral success of Boris Johson and his hardline Brexiteer cabinet — Baynham-Herd said that cryptocurrencies are well-positioned to serve as a “safe haven” investment for…

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