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Fiat Current Accounts

Last month, we launched the roll out of Fiat Current Accounts through FCA regulated partner, Enumis. These accounts allow corporate customers to access cutting edge fiat accounts with a number of features including Faster Payments, API Access, Direct Debits and Debit Cards.

Website design update

We recently made a number of updates to the website. Beyond various design and copy improvements made based on customer feedback, we also have begun an update to our trade engine order book pages. Changes include the first iteration of the new look exchange page. We have also removed the “Market Order” tab on the trade page due to the vast majority of our clients opting to use the safer “Limit Order” functionality.

Please keep an eye out for further improvements in our trading interface and website over the coming few months.

Removal of two order book asset pairs

We regularly review all of our digital asset pairings, looking at a number of factors including client demand and trade volumes. Following this analysis, we have decided to discontinue the XBT/USD and BCH/GBP order books.

These order books will be discontinued between 19:00 and 23:00 UTC on 15th
June during scheduled maintenance of the website and API.

We will continue to process withdrawals of Bitcoin Cash (BCH) as normal up until the end of July 2019. After this we will move to processing BCH withdrawals once a week until the end of September 2019. Any withdrawals that are placed after this time will be processed monthly and an administration fee will be levied.

N.B: Over the Counter (OTC) trades for BCH/GBP and XBT/USD will continue to be available.

We are very excited for you to see all the updates we will be rolling out over the next few months and welcome your feedback.

What have Coinfloor announced?

Today Coinfloor have announced a partnership with one of the longest established FCA authorised electronic money institutions, Enumis, to offer fiat current accounts.

The new offering is part of Coinfloor’s wider strategy to build a trusted, reliable and secure set of cryptocurrency financial services to bridge the fiat and crypto worlds.

Why is this important?

Speaking of the new offering, Obi Nwosu, Founder & CEO of Coinfloor said: “Crypto-focused businesses are growing at a steady pace, but until now, no reliable banking facilities have existed to help them manage fiat and crypto finance operations in an effective manner. Our partnership with Enumis will ensure that this will no longer be an issue.

With our joint pedigree and market expertise in the cryptocurrency and financial services spaces, we hope that this offering designed by members of the crypto community for the community will help the community of crypto businesses overcome their financial limitations and drive the crypto economy forward.”

Who is this service for?

The service is aimed at businesses operating in the crypto space and has been created specifically to meet the demand for a trustworthy domestic fiat current account on the Faster Payments network.

How does it work?

The crypto-friendly current accounts will allow for the deposit and withdrawal of funds via CHAPS, BACS and, 24 hours a day, UK Faster Payments. The Coinfloor-Enumis fiat current account will also allow clients to reduce costs with free GBP deposits and withdrawals into and out of their Coinfloor accounts.

What are the specific features?

Clients may access their account 24 hours a day online and will be able to undertake regular banking functions, such as setting up Direct Debits and Standing Orders. Advanced features, including programmatic API access for account automation, are also available. All current account holders will have access to Prepaid/Debit cards providing a 0.2% rebate on all transactions.

When is it available?

Applications are now open. Please click here for more information.

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