Coinbase is officially coming to the UK and Europe, after receiving an e-money license from the UK’s Financial Conduct Authority.
With this license, the company can provide payment services and digital cash alternatives, reports CoinDesk, though it should be noted that these are different from cryptocurrencies.
Coinbase said: We are committed to making sure customer funds are always secure and this update means that our e-money operations have safeguards and operational standards at par with other regulated financial institutions.
An example of this is segregation of client funds, where all customer fiat balances will be separated from Coinbase’s funds and kept in separate bank accounts.”
Widespread access will follow an initial pilot program.