Coinbase Gets a U.K. Money License and Reportedly a Bank Account

Coinbase Inc., one of the largest cryptocurrency exchanges, said it obtained an e-money license in the U.K. as it expands services in Europe. A local subsidiary also opened an account at Barclays Plc, easing deposits and withdrawal for clients, the Financial Times said.

The license will let Coinbase provide payment services and issue e-money in the country, enabling it to strike more partnerships with other companies, the venture said Wednesday in a statement. The rights, granted by the nation’s Financial Conduct Authority, will extend to more than 20 other European Union countries, it said.