London-headquartered cryptocurrency exchange, platform Blockchain.com announced today that the integration of a fiat payment gateway that will allow users in the United Kingdom to purchase cryptocurrencies using Pounds (GBP) instantly.
According to a press release shared with Coinfomania, the new payment gateway uses the UK’s Faster Payments Service (FPS), which, when combined with Blockchain.com’s best-in-class onboarding and access to FPS will allow British users, to go from account creation to buying crypto in less than five minutes.
For a start, new and registered users to the popular crypto exchange platform will be able to exchange GBP for Bitcoin (BTC) and Ether (ETH), with support for other cryptocurrencies to be enabled down the line.
Commenting on the development which comes amid talks of the United Kingdom exiting the European Union, the company’s co-founder and CEO, Peter Smith said:
As the country we’ve called home for almost a decade undergoes considerable changes, it’s imperative for us to provide the British people – our friends and families, co-workers and countrymen – new options to insulate their financial futures from the political scuffles that have destabilized the country’s economy.
Notably, the latest integration on Blockchain.com marks a first move in integrating fiat onramps on the pit.blockchain.com exchange platform, which has until now specialized in facilitating crypto-to-crypto transactions.
Integrating fiat gateways undeniably represents a step in the right direction for promoting crypto adoption since newcomers and existing crypto users often require a secure and convenient way to convert their fiat to cryptocurrencies.
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