Cryptocurrency exchange Coinbase is set to bring people in the UK closer to the digital currency market by listing crypto assets that are compliant with local laws.

Coinbase, a start-up based in San Francisco, has introduced a new feature that will see it list a growing number of digital assets alongside Bitcoin, such as Bitcoin Cash, Ethereum and Litecoin, that align with regulations in different countries, boosting consumer confidence in their legitimacy.

The company was founded in 2012 to give people secure access to a financial system based on the blockchain, the decentralised ledger that facilitates cryptocurrency transactions. The digital currencies have gained increasing attention over the past year after a rally that saw their total market capitalisation soar to approximately $830bn in January before crashing to the current value of $200bn.

Coinbase currently operates in 32 different countries and has established recognition from traditional finance players in the UK after Barclays bank opened an account for the exchange earlier this year.

Zeeshan Feroz, UK chief executive of Coinbase, believes the new feature will give people outside the US a clearer, more transparent way of navigating the thousands of assets that continue to appear in the digital currency sector.

“Coinbase supports about five assets and clearly the market is much bigger than the five we support,” he said.