Crypto wallet and exchange provider has offered users in the United Kingdom the ability to make payments and cryptoasset purchases with the British pound ahead of Brexit. 

According to a report, has launched a pound sterling gateway to its crypto exchange service, The Pit. 

Xen Baynham-Herd, executive vice president of product at Blockchain, said the decision was made in light of Brexit, in addition to the record number of first-time deposits being made to the platform by UK users. 

Baynham-Herd called cryptoassets a potential safe haven investment for UK citizens amidst the economic uncertainty being generated by Brexit, 

Bitcoin, despite being virtual, is the world’s hardest asset. Throughout history, savvy investors have relied on hard assets (like gold) to manage risk and protect long-term value in the face of instability and economic downturns.

He continued, saying that ““an event like Brexit, a global recession, or sovereign debt restructuring, could motivate more people to adopt Bitcoin and cryptocurrencies.”

The Pit will allow users to purchase crypto-assets with British pounds via the U.K.’s Fast Payments Scheme, which provides near-instantaneous settlements on transactions between different banks. 

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