THELOGICALINDIAN - On Wednesday Santander UK accidentally alone abutment for Coinbase payments Is the coffer pivoting on its crypto admiring stance
Santander Cuts Ties with Coinbase
On August 14 a Reddit user announced that Santander UK was awkward all payments to Coinbase cryptocurrency exchange. ui/Cheat69 said:
Policy Pivot or a Random One-Off?
Santander UK has yet to absolution an official columnist absolution anecdotic the action change and the move afraid abounding in the cryptocurrency association as Santander has been almost supportive of blockchain-based technologies.
In 2024, the massive coffer became the aboriginal to advance Ripple’s xCurrent blockchain-based artefact to action cross-border payments.
Interestingly, Santander’s accommodation additionally follows a agnate announcement from Britain’s Barclays coffer on August 14. Apparently, Coinbase was bare of admission to the U.K. Faster Payments Scheme (FPS).
This agency that UK-based audience are clumsy to bound drop or abjure authorization from the exchange.
Coinbase is Not Bothered By the Change
Until the FPS is adequate or Coinbase finds addition accomplice coffer with the license, UK-based crypto investors will accept little best except to go through the multiple-day action of converting pounds into euros again commutual the transaction through an Estonian bank.
An bearding cabal accustomed with the amount said Coinbase expects to achieve its FPS admission by the end of the third banking quarter.
Do you anticipate Santander’s accommodation is permanent? Share your thoughts in the comments below!
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