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Gunnercooke joins the crypto party by accepting BTC and other assets
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Gunnercooke joins the crypto party by accepting BTC and other assets

February 23, 2022 by Aishwarya shashikumar

Gunnercooke is the first UK legal firm in the top 200 to accept crypto payments, according to the firm. The renowned law firm took to its Twitter handle to announce the ground-breaking news.

The Urban legal firm announced that it has teamed with Coinpass, a cryptocurrency exchange regulated with the UK’s Financial Conduct Authority, to make the exchanges, which will accept Ethereum (ETH) and Bitcoin (BTC) as well as other crypto-assets.

Coinpass expressed acceptance for Dogecoin, Cardano, Tezos, UniSwap, and EOS on its platforms in November. Bitcoin, Ethereum, Ripple, Litecoin, Bitcoin Cash, Polkadot, Chainlink, and Stellar are among the other crypto assets enabled.

Naseer Patel, Finance Director at Gunnercooke added,

“We will now be able to work with a wider variety of clients across different jurisdictions, plus offer our partners the flexibility to be paid securely in the way they choose.”

So far, there have been a few law firms from the U.S. that accept crypto-asset payments, with this move, Gunnercooke becomes the first law firm to be at the forefront of innovation, according to Patel.

Among the legal firms in the U.S., big law companies like Perkins Coie, Steptoe & Johnson, and Quinn Emanuel Urquhart & Sullivan, along with regional firms Frost Brown Todd and McLaughlin & Stern, have all embraced cryptocurrency as payment.

Gunnercooke’s move to help push for growth in crypto practices
Since its founding in 2010, Gunnercooke has pushed for expansion in its fintech and crypto practices, having created a client base of around 100 crypto developers, platforms, and exchanges.

Additionally, Attestant, a crypto-staking firm, compensated Gunnercooke for its legal consulting services using Ethereum through the new mode of payment this week. Gunnercooke financial services and fintech partner Jamie Burnie predicted that over the next decade, Bitcoin will gradually gain acceptance as a mode of payment in general.

While crypto is gaining traction as a payment method among law firms, just a small percentage accept it, and then only for a small number of clients, but this is changing.

With the world evolving, it is essential for a firm to accept payment in crypto. This development could help improve any firm’s outlook by building a large client base that would cover the entire blockchain and crypto-asset ecosystem.

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