Coinbase, a San Francisco-based top ranking crypto exchange has recently announced support for Ripple (XRP) for its New York state-based users.
Coinbase Opens XRP for its NYC Clients
Coinbase made this known via a recent tweet. The tweet revealed that New Yorkers can now buy, sell, convert, send, receive or store XRP on Coinbase.com or via its iOS and Android mobile apps.
The announcement has sent the price of XRP flying high. With a move of around 20 percent recorded within 24 hours.
It is, however, important to note that the leading crypto—Bitcoin has been making some bullish move which has seen its price rising significantly.
XRP was initially added to the Coinbase retail platform in February of this year. However, residents of New York City and the U.K were not allowed to use access to the coins.
Coinbase’s offering has grown significantly. Currently, the exchange offers support for bitcoin (BTC), bitcoin cash (BCH), ether (ETH), ethereum classic (ETC), litecoin (LTC), Circle’s USDC stablecoin, zcash, Brave’s Basic Attention Token (BAT), etc.
The exchange also recently started offering a “fast and free” payments service using XRP and USDC stablecoin.
The service has been described by an exchange’s representative as being “primarily designed as an educational resource for customers to learn about the benefits of using crypto for cross-border payments, ”
Boerse Stuttgart announces New XRP (ETN)
In the wake of Coinbase adding support for XRP for its New York client, German exchange—Boerse Stuttgart announced the launch of a dedicated exchange-traded note (ETN) for both XRP and litecoin (LTC).
“There is a lot of interest in cryptocurrencies,” Jürgen Dietrich, the exchange’s director of blue chips and funds trading, said in an accompanying press release.“These ETNs will allow investors in Germany to track future price developments of the two cryptocurrencies Litecoin und Ripple through exchange-traded securities for the first time.” the release continued.
Being Germany’s second-largest stock exchange, this news is a significant one for the crypto industry entirely but most especially ripple.