Cryptocurrency exchange CEX.IO announced today the addition of British pound versus Ether trading for UK clientele who hold most of their assets in GBP. With the ability to deposit and withdraw funds directly in GBP using a credit card or via bank transfer, users will also be able to save on conversion rates.
ETH/GBP is now the fourth ETH trading pair on CEX.IO, after ETH/USD, ETH/BTC, and ETH/EUR. Margin trading is only available right now on ETH/USD, having been launched back in March.
ETH/GBP finished the North American day trading at £265.9899 heading into Thursday.
CEX.IO stated they will continue looking at different ways of developing the ETH market on the exchange as time goes on. Interestingly, due to high demand on the Ethereum network today, many exchanges including CEX.IO actually suspended ETH deposits and withdrawals until the network shows signs of stabilizing.
Ether is a required element for operating the distributed platform called Ethereum. ETH is used as a form of payment by developers of apps built on Ethereum, as well as by users who are willing to access and interact with smart contracts.