Coinbase to Launch SegWit Upgrade as Customers Seek Lower Fees

Coinbase Inc., the largest U.S. cryptocurrency exchange, is planning to roll out a long-awaited software update in an effort to reduce transaction fees customers pay when sending Bitcoin.

The upgrade, called Segregated Witness or SegWit, was first made available by developers in August as Bitcoin’s growing popularity led to congestion in the network. Coinbase said in a tweet Tuesday that it will begin a phased rollout this week, and expects to launch the change for all customers by the middle of next week.