The centralized crypto exchange BitStamp is adding the British Pound (GBP) as a funding option.
The crypto exchange, in cooperation BCB Group, a financial services enterprise, in order to enable customers to deposit as well as withdraw funds in the British Pound. Based on the company’s statement, this feature will be released by the end of 2019.
BCB Group operates according to Financial Conduct Authority regulations and had the ability to open separate customer accounts for the exchange. Before BitStamp, other large crypto exchanges such as Coinbase, Kraken as well as Coinfloor have also adopted the British Pound.
A representative of the financial group stated that the reason why BitStamp is focused on the Euro and the United States Dollar as their markets have higher liquidity compared to the British Pound. However, as the British Pound is gaining liquidity, institutions start to take more interest in the currency. As a result, crypto exchanges also start adopting the currency.
The Chief Executive Officer of the financial enterprise stated that they deeply value their new collaboration with BitStamp. This helps citizens of the United Kingdom to make transactions with Bitstamp onshore.
However, this still doesn’t mean that the exchange is adding trading pairs with British Pound. This is a way for the company to expand internationally.