Coinbase stops accepting deposits from Nationwide bank

The users of Twitter and Reddit have noticed that deposits from Nationwide bank to Coinbase are not working, and Coinbase published a statement that those deposits are no longer accepted
08 January 2018   515

Nationwide Building Society is a British mutual financial institution and the largest building society in the world with over 15 million members with headquarters in Swindon.

It was announced on the official website of Coinbase that they will no longer be accepting deposits from Nationwide Bank. That decision may be linked to Nationwide’s SEPA payment processing, which is maintained by Germany’s Commerzbank, which have been associated with a company's policy of refusing to deal with transactions related to Bitcoin and cryptocurrency.

Earlier, Nationwide Bank’s correspondent bank for SEPA transfers Commerzbank has stated no longer allows transfers related to Bitcoin.

Coinbase Nationwide bank statusCoinbase status towards Nationwide Bank

Previously, we have reported that Coinbase was undergoing major issues in the end of November, and that Coinbase' insider trading evidence was unveiled in the end of December 2017.

Coinbase Implemented SegWit

One of the largest cryptocurrency exchange now supports SegWit protocol
21 February 2018   113

The leading crypto exchange of digital assets Coinbase announced the imminent launch of Segmental Witness (SegWit) protocol.

The SegWit protocol was activated in the bitcoin network in August 2017, but even after six months a number of large companies still did not support it. Coinbase turned out to be under a separate wave of criticism - a few months ago the company expressed support for some dubious decisions that could potentially increase its profits, but would hardly contribute to the healthy development of bitcoin as a whole.

It is important that Coinbase has one of the largest user bases in the bitcoin industry, and SegWit support will surely have a positive impact on both the total number of SegWit transactions on the network and the reduction of commissions.