Cryptocurrency exchange Bitstamp has teamed up with digital asset prime broker BCB Group to facilitate GBP transfers.

Under the partnership, users of Bitstamp will be able to withdraw and deposit funds denominated in GBP.

At present, the crypto exchange supports trading between BTC, BCH, ETH, XRP, LTC, USD, as well as EUR.

According to Bitstamp, the new service will lower expenses for clients while boosting operational efficiency.

Bitstamp CEO Nejc Kodrič calls the move a great fit.

Kodrič noted: “One of our points of emphasis is providing robust payment rails to our global customer base.

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“We’re excited to have BCB Group provide an additional boost to our efforts on that front.”

The new service is expected to be launched by the end of 2019.

BCB founder and CEO Oliver von Landsberg-Sadie said: “We value this partnership not only because it enables UK clients to transact with Bitstamp onshore, rather than having to send funds offshore, but also because it furthers our mission to provide seamless prime services infrastructure covering compliance, trade execution and settlement and custody for clients wishing to access cryptocurrencies.”

Bitstamp was in the news earlier this year for securing a cryptocurrency licence from the New York Department of Financial Services.