Coinbase (Major cryptocurrency exchange in the United States) has added support for Ripple (XRP) to its mobile applications and its retail platform. This development on the exchange was announced on February 28 in a blog post. According to the announcement made, users of Coinbase are now eligible to purchase, convert, send, receive and store XRP on coinbase.com as well as Coinbase Android and IOS apps.
Although the services won’t be available to everyone in the initial phase but will eventually be accessible to all jurisdictions. Initially, the service will be available to all the residents of the United Kingdom and New York, US. Coinbase announced on the 25th of February about its support to XRP on its Coinbase pro platform. Coinbase also stated through the announcement that complete XRP trading would be enabled for customers in the US, Canada, the United Kingdom, the European Union, and Australia. Expanding further to other countries is planned for a later date.
Soon after this news floated, Diar (blockchain research firm) came out with a report which stated that XRP is not complying with one of the Coinbase’s listing rules. As per the report by Diar, ‘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.’
At the moment, XRP is yet to react to the reports by Diar. According to CoinMarketCap, XRP is up by 0.4 percent and at press time is trading at approximately $0.313. Today, the altcoin had witnessed a significant fall before it recovered. Earlier today, XRP dropped as low as $0.309.