Coinbase Expands Into The UK

Over the past few months, the UK has made itself a welcome home for bitcoin users, enthusiasts, and entrepreneurs looking to get in on the growing trend of digital currencies.

Many have declared London as a hub for bitcoin businesses due to the city's attitude of acceptance, and it seems that established bitcoin-based firms are beginning to take notice.

Coinbase Exchange Opening

On Tuesday, Coinbase opened a regulated exchange in the UK, allowing users to trade bitcoins for both pounds and euros.

Before this week's opening, Coinbase was only operating in the US, but the expansion will allow users in Great Britain to use the service as well.

Positivity In The UK

Coinbase CEO Brian Armstrong said much of his decision to expand into the UK was based on a recent visit to London, where he said the attitude surrounding cryptocurrencies was very optimistic.

Though he admitted the exchange was difficult to open due to regulatory oversight in the UK, Armstrong said the region's regulators were very accommodating and helpful.

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London Emerging As Bitcoin Hub

Armstrong's experience expanding into the UK suggests that the region is making good on pledges by British Economy and Finance Minister George Osbourne to work together with firms and promote digital currencies while still protecting the region against criminal activity.

Coinbase To Continue Growing

Armstrong says that the company's UK expansion is only the beginning of the exchange's growth.

Already the largest exchange by volume in the US, Coinbase is hoping to take its services across the globe to serve several different markets.