Coinbase expands to the UK, launches bitcoin exchange

Coinbase, the San Francisco-based bitcoin exchange, has launched its bitcoin wallet, exchange and merchant services in the United Kingdom.

Brian Armstrong, Coinbase co-founder and CEO, said the move to launch in the UK was in part motivated by his trip to London last year.

"The interest in the UK is at a different level than it is elsewhere in Europe. We got the sense that the demand there was really high ... [and] London is a financial capital of the world, so it was a logical next step," he explained.

The UK Coinbase Exchange is so far supporting trading in two new currency pairs - BTC/GBP and BTC/EUR. Users will be able to add sterling and dollar to their Coinbase wallets through wire transfer while euro can be added using SEPA.

"We're already the biggest exchange by volume in the US and number three or four in the world, depending on the data you look at. I think launching in the UK will help improve on that and increase the liquidity on the platform," he said.