UK Bitcoin Exchange Coinfloor Expands, Plans on Launching BTC Fund

London-based Bitcoin exchange Coinfloor plans on raising funds for expansion and launch a Bitcoin exchange traded fund linked to traditional commodities.
UK Bitcoin exchange platform Coinfloor announced it will start accepting deposits in USD, euros and Polish zloty starting from Tuesday, reported the Financial Times on October 19.
Coinfloor banks with Poland’s largest financial institution PKO Bank Polski, and has admitted that British banks weren’t keen in doing business with the company due to the uncertainties surrounding Bitcoin’s legitimacy in the UK. Thus, Coinfloor’s announced acceptance of Polish zloties is rather a sign of the UK’s skepticism regarding digital currencies.
CEO Mark Lamb told the media outlet British banks were considerably hampering the UK’s chances in becoming a prominent player in the Bitcoin ecosystem:
“The Polish Bitcoin market has taken off significantly and is now more than double the size of the sterling market. The [British] banks are very conservative and are not very interested…’in something that could be very innovative and disruptive to what they do.”

This post was published at Coin Telegraph on 2014-10-20.