Crypto exchange Coinbase launches support for XRP, the third-largest cryptocurrency by market capitalization.
The stock market announced Monday that it would register XRP on its professional trading platform, Coinbase Pro, in "transfer-only" mode, which means that customers can only start depositing tokens. After a minimum of 12 hours, the company plans to activate other trading services, although this schedule is variable.
Initially, customers of Coinbase Pro in the United States (excluding New York State), the United Kingdom, some EU countries, Canada, Singapore and Australia will be able to access the XRP , assistance that may be added in the future.
Although no specific schedule has been announced for support on Coinbase's retail platforms (coinbase.com, as well as for its Android and iOS applications), the stock market generally launches cryptocurrency for its non-professional users a few weeks after launching support on Coinbase Pro.
"The [XRP] ledger is powered by a network of peer-to-peer servers. All accounts in this network can send or receive XRP from one to the other, while the XRP can be used to send underlying fiduciary currency between two parties, "said a Coinbase blog , adding:
"In this way, the XRP can function as an intermediate currency in transactions involving different currencies, such as the US dollar, the Japanese yen, the euro, the franc and others still used on the XRP network. . "
A person familiar with Coinbase's internal decision-making process has stated that the company "is ready to support the asset regardless of its classification by the regulators," referring to the open question of whether the XRP can be qualified title.
Ripple Labs, its subsidiary XRP II and a number of XRP cryptocurrency affiliates are currently defendants in a federal class action alleging that XRP is a security issued by the payments department, a claim that Ripple rejected.
Brian Armstrong on stage at Techcrunch Disrupt London in 2014 interviewed by Alex Wilhelm.