Bitfinex Launches Low-Cost, High-Speed British Pound (GBP) Fiat On-Ramp Service Amid Frantic Trading of UK Currency - Bitfinex blog
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Bitfinex Launches Low-Cost, High-Speed British Pound (GBP) Fiat On-Ramp Service Amid Frantic Trading of UK Currency


ROAD TOWN, British Virgin Islands, October 17 2022
Bitfinex, a state-of-the-art digital token trading platform, has launched a British Pound (GBP) fiat on-ramp service to enable deposit and withdrawals of GBP, quickly, easily and cheaply.

Working with fiat on-ramp services provider OpenPayd, the introduction of the service comes as the UK currency remains in focus after recently dropping to historic lows against the US Dollar (USD).

Bitfinex has witnessed a significant spike in volume in Bitcoin (BTC)/GBP trading activity, which on September 26 helped propel the exchange to second place in CoinGecko exchange rankings, measured by trading volume.

OpenPayd’sGBP service, which will enable Bitfinex customers to make near-instant transfers from a bank account into their exchange wallet via Faster Payments, is designed to provide the platform’s growing customer base with a low-cost, high-speed fiat on-ramp service.

“We are delighted to add the British Pound to the currencies available for speedy transfers in and out of our customer accounts,” said Paolo Ardoino, CTO at Bitfinex. “The service, in collaboration with specialist fintech payment provider OpenPayd, provides an opportunity for our customers to deposit GBP quickly and cheaply. The high costs associated with turning fiat into crypto has been a barrier to entry for many new potential customers, and OpenPayd’snew service offers a high-speed and low-cost solution.”

“The only way to democratise crypto investments will be through broader access to fiat on-ramps and off-ramps, so every investor can obtain access to the crypto ecosystem,” said Iana Dimitrova, Chief Executive at OpenPayd. “It has been a privilege to work with Bitfinex to achieve this. The rollout of GBP account infrastructure will play a critical role in helping Bitfinex clients unlock the full potential of crypto.”

Bitfinex customers with intermediate verification and above can now use the OpenPayd payment gateway to transfer funds in GBP from a bank account to their exchange wallet at a fee of just 50 pence. There is no minimum or maximum deposit amount using OpenPayd services on Bitfinex. 

*All users of www.bitfinex.com are subject to Bitfinex’s terms of service (“TOS”). Please note that U.S. persons (as defined in the TOS), among other prohibited persons (as defined in the TOS), are strictly prohibited from directly or indirectly holding, owning or operating an Account (as defined in the TOS) on www.bitfinex.com. 

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About BitfinexFounded in 2012, Bitfinex is a digital token trading platform offering state-of-the-art services for traders and global liquidity providers. In addition to a suite of advanced trading features and charting tools, Bitfinex provides access to peer-to-peer financing, an OTC market and margin trading for a wide selection of digital tokens. Bitfinex’s strategy focuses on providing unparalleled support, tools, and innovation for experienced traders and liquidity providers around the world. Visit www.bitfinex.com to learn more.

Media Contact for Bitfinex

Joe Morgan

Senior PR Manager

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