Coinbase Adds Stellar Lumens (XLM) to Its Growing List of Supported Cryptocurrencies for Retail Investors
Coinbase, the largest crypto exchange in the US, has listed Stellar Lumens (XLM). Customers on Coinbase.com and in the Coinbase Android and iOS apps, can buy, sell, convert, send, receive, or store XLM. The news follows last week’s launch of Stellar on Coinbase Pro, the company’s platform for professional traders.
Stellar Lumen (XLM) is the native cryptocurrency of the Stellar payment network which aims to connect banks and financial institutions, payment systems and individuals for fast, secure and cost-effective, cross-border transactions.
XLM will be available for Coinbase customers in most jurisdictions, but will not initially be available for residents in the UK or the state of New York.
Coinbase has steadily applied a new listing process to rapidly ramp up its list of supported cryptocurrencies, onboarding digital assets that meet its standards. The exchange now offers 20 coins, with several in the top 10 including Bitcoin, Ethereum, XRP, Litecoin, Bitcoin Cash and Stellar.
Of the top 10 cryptocurrencies by market cap, four coins are currently excluded: EOS, Tron, Tether and Binance Coin, the native cryptocurrency of rival exchange Binance.
In addition to the Coinbase listing, IBM announced the expansion of World Wire, the tech giant’s global network connecting financial institutions for foreign exchange, cross border payments and remittances. Built on the Stellar protocol, World Wire will utilize XLM as a settlement instrument across 72 countries.