Amid a sea of crypto red, the price of XRP has turned green – after a big announcement from Coinbase.
The leading US cryptocurrency exchange says it will soon begin ‘rapidly’ adding more coins to its platform. To deal with regulatory concerns in certain countries, Coinbase says it will limit the trading of some tokens in certain locations.
“Today we’re announcing a new process that will allow us to rapidly list most digital assets that are compliant with local law, by satisfying listing requests in a jurisdiction-by-jurisdiction manner. In practice, this means some new assets listed on our platform may only be available to customers in select jurisdictions for a period of time.”
Ripple fans have long anticipated and lamented the rumored listing of XRP on Coinbase. As news of today’s announcement dropped, the price of XRP promptly spiked, and is currently up more than 11% on CoinMarketCap.
Dan Romero, the Vice President of Coinbase, talked about the announcement on CNBC.
“When we talk to customers, their number one request is: add more assets to the platform. And if you look at where we are today, we have five assets on the platform and there are thousands of cryptocurrencies we don’t support. So what we’re launching today, and I’m really delighted to talk about it, is listing.coinbase.com. And the new process where we will enable Coinbase to list as many assets that are compliant with local law.”
— CNBC's Fast Money (@CNBCFastMoney) September 25, 2018
Coinbase says it may introduce a listing fee and charge crypto projects to list coins on the platform to help balance out the legal and operating costs of adding more assets.