UK Law Firm Gunnercooke The First To Accept Crypto As Payment

The UK Law firm Gunnercooke is the first one to accept crypto as payment for its services as we can read more today in our latest cryptocurrency news.

The UK Law firm Gunnercooke announced it will start accepting cryptocurrency as payments for legal and professional services. The Financial Services and FinTech partner James Burnie said in a statement:

“It’s vital that we accept payment in this way for our substantial client base, which spans the entire blockchain and cryptoasset ecosystem. Accepting payment in cryptoassets demonstrates our commitment to and understanding of this important and growing community. Over the next decade, I expect to see a gradual transition towards cryptocurrency becoming increasingly accepted as a means of payment generally.”

The law firm is partnering with Coinpass to facilitate the exchange of cryptocurrency. The Coinpass CEO Jeff Hancock said that the team is proud to be Gunnercooke’s crypto exchange partner and added they were quite happy to be partnered with the organization that has ambitions to push the blockchain and crypto in the UK. Gunnercooke has about 10 offices spanning across Germany and the UK and a client base of 100 cryptocurrency developers, exchanges, and platforms one such example is Attestant which is a staking business that the law firm advised in legal and regulatory matters that were involved in the crypto staking.

The company believes it is the first UK company to make this move as Naseer Patel who is the Finance Director at Gunnercooke said the company is proud to be at the forefront of innovation in the UK. While the list could be small, other law companies in the US are also starting to accept crypto as payment. According to American lawyer Perkins Coie, Steptoe & Johnson and Quinn Emmanual Urguhart & Sullivan all started accepting BTC in 2013, 2016, and 2019 respectively. If Visa’s crypto credit card usage is something to keep an eye on, it seems that the broader adoption of crypto payments is also on the rise.

In the earnings call last month, Visa said customers made $2.5 billion in payments using crypto-linked cards in the first fiscal quarter of the year and as CFO Vasant Prabhu of Visa said:

“To us, this signals that consumers see utility in having a Visa card linked to an account at a crypto platform.”