Today we have a number of things to announce:

The set up of a client funds trustee agreement with our treasury services provider

You can now make lower cost same-day UK “Faster Payments” withdrawals

Our extended 0% trading fees offer has come to an end

Client funds trustee agreement

Today we are proud to announce the set up of a segregated client funds trustee agreement with our treasury services provider, Capital Treasury Services, operating in accordance with the rules of the UK’s Financial Conduct Authority. This agreement is exactly the same as the agreements FCA regulated businesses are required to have. This means that any client funds we hold on behalf of our customers at Capital Treasury Services are held “in trust”. So, in the case of a claim against Coinfloor, these client funds will not be available for the claimant to pursue. Furthermore, in the unlikely event Coinfloor goes bankrupt, outside creditors do not have access to these client funds. This therefore helps protect our clients from a repetition of a MT.Gox-like event.



As many in the UK bitcoin industry know, being able to clear UK local payments has been extremely challenging. This has stifled Bitcoin innovation and adoption in the UK and has held London back from any attempt at becoming the financial services capital of the bitcoin ecosystem and so mirror its leading position in the financial industry outside of bitcoin. This is why Coinfloor participated in discussions with Number 10 and the Cabinet Office a year ago and why we are founding members of Innovate Finance, an initiative by the FinTech industry to help broaden the access to payments and clearing for financially innovative firms. The efforts of Innovate Finance, sponsored by The City and Canary Wharf Group PLC, stand to have a significant effect on the future of financial innovation.



Four months ago, we went live as the first venture backed exchange in the UK. Initially, all deposits and withdrawals were processed by Bank Polski (PKO) in Poland, the largest bank in the country. We still often had the best prices, as a result of being the only Sterling denominated exchange, but UK Faster Payments was consistently the most requested feature in our customer surveys. This is why we partnered with Capital Treasury Services, an innovative financial institution regulated in the Isle of Man by the Financial Supervision Commission, for the clearing of local UK payments. Our clients so far have enjoyed the benefits of bringing their trading capital closer to home. Capital Treasury Services clears payments through a number of UK banks and holds the capital in fully segregated accounts.





Offering of Faster Payments Withdrawals

We will now be processing all UK Sterling withdrawals via Faster Payments. This will enable our users to receive same-day payments for their withdrawal requests placed before the cut-off time at 12 PM.



On our Withdraw page you now have the option of adding your account number and sort code and selecting Faster Payments as your withdrawal method when placing a request. The fee for Faster Payments withdrawals is 5 GBP as compared to the 10 GBP required for International Wire Transfers. Our minimum withdrawal amount remains at 25 GBP. You can read more about how GBP withdrawals work on our Support pages.

Reinstatement of trading fees

After trading over 1.4 million GBP over the last 4 months, becoming one of the most liquid rising exchanges in the world with 200-300 bitcoin to buy and sell in our books at competitive prices and testing our offering with our users, Coinfloor is ending its 0% trading fee promotion. New customers on-boarded from today will start incurring trading fees immediately and existing users will continue to have 0% trading fees until this coming Monday.





Coinfloor uses a maker-taker fee model. Maker fees are paid when a user adds liquidity to our order book, by placing a limit order below the ticker price for buy orders and above the ticker price for sell orders. Taker fees are paid when a user removes liquidity from our order book, by placing any order that is executed against a limit order in the order book.

We only charge after an order is matched and not for placing an order. We use this fee model in order to incentivise the most liquidity so that any orders made get fulfilled quickly and at the best possible rate.

You can find more details on our Fees page.



Thank you for using our exchange. We look forward to your feedback.