Law firm becomes one of the first to accept crypto payments

National law firm gunnercooke has become the latest company to announce it is accepting payment for services in cryptoassets such as ether and bitcoin.

Payments will be made through Coinpass, a cryptoasset exchange registered with the Financial Conduct Authority

It believes it is the first for a major law firm in the UK to do this and follows the firm’s work with clients in the fintech and cryptoasset space.

One of its clients, Attestant, a business in crypto-staking, a process used to verify cryptocurrency transactions, has already paid gunnercooke for its legal consultancy services using Ethereum via the new payment option this week.

Naseer Patel, Finance Director at gunnercooke, which has offices in Manchester, Leeds and Birmingham, said: “Up to now, only a few US law firms allow for cryptoasset payments so we are proud to be at the forefront of innovation in the UK.

“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.”

Financial Services & FinTech Partner James Burnie said: “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.”