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Regular Retail Investors Can Now Trade XRP on Coinbase's 'Consumer' Platform


www.cryptoglobe.com 28 February 2019 23:40, UTC
Reading time: ~2 m

On Thursday (February 28th), Coinbase announced that it had added support for XRP at Coinbase.com and in Coinbase's mobile app (which is available both iOS and Android).

At the beginning of this week (February 25th), the moment that fans of the world's third most valuable currency had been waiting for arrived with the announcement from Coinbase that it was launching XRP trading on Coinbase Pro, its platform for professional/experienced investors.

According to Coinbase's blog post on that day, "support for XRP will initially be available for Coinbase Pro users in the US (excluding NY), UK, supported European Union member nations, Canada, Singapore, and Australia, with more jurisdictions to be possibly added at a future date. We were not given a date for when XRP would become available on Coinbase.com or via the Coinbase mobile app. However, probably very few expected that date to be jujst three days later.

Coinbase announced today that its customers could now "buy, sell, convert, send, receive, or store XRP" on Coinbase Consumer (Coinbase.com) and on the Coinbase mobile app for iOS and Android. Coinbase's blog post warns that "inbound transfers and many sends require the specification of an XRP destination tag."

Although XRP trading should be possible from today for users in most of the jurisdictions served by Coinbase, sadly, most likely due to regulatory reasons, it will not initially be available for residents of the United Kingdom or the state of New York.

Unsurprisingly, today's good news has already positively impacted XRP's price, with data from CryptoCompare, at press time, showing that XRP is trading at $3142, up 2.25% in the past 24-hour period. 

Former CME Group executive Miguel Vias who is currently Head of XRP Markets at Ripple had this to say on Twitter about unsubstantiated rumors that Ripple had paid Coinbase to get XRP listed:

We’re happy to go on the record. Coinbase’s listing of XRP (also, not “our token”) was Coinbase’s independent decision - we did not give them anything to make it happen. https://t.co/xTVvACqsQa

— Miguel Vias ⚡ (@miguelvias) February 27, 2019

This tweet immediately got the attention of Anthony Pompliano ("Pomp") who is Founder & Partner at Morgan Creek Digital:

Miguel — want to come on the podcast and talk more about Ripple, XRP, Coinbase listing, and what you’re excited about moving forward?

— Pomp 🌪 (@APompliano) February 28, 2019

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