Cryptocurrency exchange Coinbase has launched trading support for XRP for New York state residents.
The San Francisco-based firm tweeted the news Monday, saying that New Yorkers can now buy, sell, convert, send, receive or store XRP on Coinbase.com or via its iOS and Android mobile apps.
After the announcement, the price of XRP jumped over 20 percent to reach a high of $0.39 following the announcement, according to data from CoinMarketCap. However, the surge also coincides with bullish moves from bitcoin in the last 24 hours.
Coinbase initially added XRP support for its retail platforms in February of this year, but New York and U.K. residents were not included at the time.
The exchange’s list of supported cryptocurrencies continues to grow. It currently 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), among others.
Coinbase also recently started offering a “fast and free” payments service using XRP and USDC stablecoin. The service is “primarily designed as an educational resource for customers to learn about the benefits of using crypto for cross-border payments,” the exchange’s representative told CoinDesk at the time.
Coinbase image via Shutterstock
Author: Yogita Khatri