Crypto Exchange Coinbase Adds Support for XRP on Retail Platform and Mobile Apps
United States major cryptocurrency exchange Coinbase has added support for Ripple (XRP) to its retail platform and mobile apps. The exchange announced the development in a blog post on Feb. 28.
The announcement states that Coinbase’s users can now purchase, sell, convert, send, receive, and store XRP both on Coinbase.com and the Coinbase Android and iOS apps.
As usual, the service will reportedly be available for most jurisdictions, however it will not initially be available for residents of the United Kingdom and the U.S. state of New York.
On Feb. 25, Coinbase announced support for XRP on its Coinbase Pro platform. In the announcement, Coinbase stated that full trading of XRP will be available to customers in the U.S., Canada, the European Union, the United Kingdom, Singapore and Australia, while also planning to expand its services to other countries at a later date.
Following the news, blockchain research firm Diar released a report stating that XRP is violating one of Coinbase's listing rules. Per the report, in its “Digital Asset Framework,” Coinbase states that "the ownership stake retained by the team is a minority stake," while Ripple purportedly holds around 60 percent of the supply in escrow with a release schedule.
XRP has not yet reacted the news, up by just 0.4 percent on the day and trading at around $$0.313 at press time, according to data from CoinMarketCap. The altcoin has seen a major dip today before recovering, having dropped to as low as $0.309 earlier today.