Services of the cryptocurrency exchange Coinbase were terminated by British bank Barclays for unknown reasons. This was reported by the news agency CoinDesk, recalling some knowledgeable sources.
Coinbase lost access to the Faster Payment System (FPS) by which users could make instant input/output of British pounds. Now it could take several days to finish the operation.
On July, 24 Coinbase informed that FPS would be unavailable for the British users.
With reference to the sources, the exchange has entered the partnership already with British bank ClearBank, therefore, the access to FPS must have been restored by the end of the third quarter.
Recently rumours are circulating that Barclays bank shifted its policy towards cryptocurrency industry in relation to the high risks which cryptocurrencies carry, in particular.
Meanwhile, the rumours remain at the speculation stage since the bank didn’t provide an official confirmation or denial of this data. Moreover, the bank didn’t inform that it would stop to serve bitcoin-companies.
Several sources inform that the Coinbase-Barclays collaboration was the part of a temporal pilot program.
It’s known that a year earlier Barclays bank served Circle company as well and the bitcoin-wallet provider Blockchain. However, the current status of their relationship is unknown. It should be noted that the forthcoming delisting of ZCash for the British residents was probably on the ClearBank’s demand.