Following our announcement earlier this month that we would be introducing support for British pounds (GBP) to our UK-based customers, today we’re launching a number of new GBP trading pairs starting at 9am BST, Friday 7 September 2018.
With support for UK domestic bank transfers in GBP via the Faster Payments Scheme, it is now significantly easier, faster and cheaper for UK customers to trade cryptocurrencies on the Coinbase platform. Coinbase Pro is the only major digital currency trading platform that supports UK Faster Payments and it’s our goal to be the trading platform of choice for UK crypto traders. In advance of the launch of the new trading pairs, all UK customers now have access to send GBP to their Coinbase accounts via domestic bank transfer.
The new pairs that we are launching are: ETH–GBP, ETC–GBP, LTC–GBP and BCH–GBP. Coinbase Pro already supports BTC–GBP. The detailed launch process and timings are outlined below.
The Stages of the GBP trading pairs launch
As outlined below, there will be three stages to the launch. We will follow each of these stages independently for each new order book: ETH–GBP, ETC–GBP, LTC–GBP, BCH–GBP. Each phase will be announced in real time via Coinbase Pro’s Twitter.
If at any point one of the new order books does not meet our assessment for a healthy and orderly market, we may keep the book in one stage (as identified below) for a longer period of time, or suspend trading as per our Trading Rules.
- Post-only. In the first stage, customers can post limit orders but there will be no matches (completed orders). Order books will be in post-only mode for a minimum of 10 minutes.
- Limit-only. In the second stage, limit orders will start matching but customers are unable to submit market orders. Order books will be in limit-only mode for a minimum of 10 minutes.
- Full trading. In the final stage, full trading services will be available, including limit, market, and stop orders.