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Blockchain.com’s new GBP gateway creates a crypto-hedge against Brexit uncertainty

Blockchain.com is adding a British pound (GBP) gateway to its cryptocurrency exchange, the PIT, as it prepares for Britain’s coming separation from the European Union, Brexit.

Announced Thursday in a press release, the addition will utilize Britain’s Faster Payments Service (FPS) to let Blockchain.com’s U.K.-based users buy cryptocurrencies almost instantly.

The company framed its dual announcement as a bet on Britain at a tenuous time. With Prime Minister Boris Johnson’s recent landslide victory all but ensuring Brexit by Jan. 31, the nation is streaming towards an uncertain future.

That uncertainty, Blockchain.com said in the release, coincides with a surge in British interest in its site.

“As the country we’ve called home for almost a decade undergoes considerable changes, it’s imperative for us to provide the British people – our friends and families, co-workers and countrymen – new options to insulate their financial futures from the political scuffle.

Blockchain.com Executive Vice President of Product Xen Baynham-Herd did not provide details around FPS, a U.K. banking initiative that drastically reduced settlement times between member banks. Asked which bank Blockchain.com was utilizing, he declined to answer. 

“We partner with multiple banks, but cannot disclose which”, he told CoinDesk.

Source: Coindesk

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