With cryptocurrency establishing itself as an essential part of the financial portfolio for many consumers and businesses, it’s time that UK banks started to catch up. By embracing digital transformation and learning from fintech models, they can offer an integrated banking solution that matches the needs of their customers.
Top Banks Supporting Crypto in the UK, Barclays has made the most progress in this regard. Initially eager to be proactive in cryptos, they partnered with Coinbase in 2018, only to retract their choice a year later, justifying it as a pilot program that “had simply run its course”. Nonetheless, the bank continues to facilitate payments to and from crypto exchanges, as well as credit and debit card purchases, while ensuring strict regulation of transactions based on their safety credentials.
Top Banks in the UK That Support Crypto Transactions
Another notable UK-based bank is Nationwide, a long-established institution that supports card crypto purchases and deposit/withdrawal limits on cryptocurrency exchanges. This makes it a good option for users who need an account that’s easy to use with crypto exchanges.
There is less certainty about Capital One’s policies, as they’ve yet to release a statement on their stance on crypto-related transactions. However, some reports indicate that the bank does not block cryptocurrency-related transactions, and customers who’ve used their cards on some exchanges report successful purchases and deposits.