Coinbase is one of the biggest cryptocurrency exchanges in the world. To maintain that position, the company needs to keep explaining its position. Adding GBP trading was a smart decision years ago. In a surprising move, the company has added additional trading pairs in this rather untapped market.
Cryptocurrency exchanges need to keep growing and evolving. Consumers from all over the world demand exposure to Bitcoin and alternative cryptocurrencies. For exchanges such as Coinbase, this introduces a lot of new business opportunities. Expanding upon the GBP trading markets is a smart decision in this regard. Britons have shown a keen affinity for cryptocurrencies over the years, yet they are often ignored by international exchanges.
A Smart Business Decision by Coinbase
Coinbase is taking important steps in this regard. The company has added support for Ethereum,. Ethereum Classic, Litecoin, and Bitcoin Cash. These new pairs are going live on the Coinbase Pro platform. Said platform also supports the UK Faster Payments technology to provide quick and convenient access to these cryptocurrencies.
It is expected these new trading pairs will generate a lot of initial trading platform. Ever since exchanges such as Kraken virtually removed GBP support, Britons have been looking for convenient solutions. Several domestic trading platforms exist, yet none of them is on the same level as Coinbase. That is not surprising, as the company is genuine in a league of its own.
As one would expect, there are several stages to this rollout. That is only normal, as enabling so many new trading pairs all at once will cause some havoc. The official rollout will be communicated through the Coinbase Pro Twitter account. Should any of the new markets fail to meet the company’s assessment for a healthy market, the company will act accordingly.