Barclays no longer banking cryptocurrency exchange Coinbase

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Barclays is no longer providing banking services to cryptocurrency exchange Coinbase, sources familiar with the matter told Reuters, ending a relationship that started in March last year as the exchange expanded in Europe.

The rare deal between the San Francisco-based exchange and the British bank made it easier for Coinbase users to buy cryptocurrencies with pounds and withdraw their funds.

The exchange’s chief executive for the UK, which is Coinbase’s biggest European market, said in March 2018 that the deal with Barclays had taken some time to sign because the bank needed to be sure that Coinbase had the right systems in place to prevent money laundering.

 

Via Reuters

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