After some worry about Ripple’s listing on Coinbase because it didn’t meet the exchange’s Digital Asset Framework criteria, the XRP token has moved past all of that and has been listed on the exchange’s consumer platform. The token is now available on both the web and mobile apps.
The XRP token was first listed on Coinbase Pro earlier this week, after undergoing the exchange’s usual listing process that helps establish liquidity. The token is available to users in select jurisdictions, including the United States, United Kingdom, Canada, European Union, Australia and Singapore.
The official announcement reads:
One of the most common requests we receive from customers is to be able to trade more assets on our platform. With the recent announcement of our new listing process, we anticipate listing more assets over time that meet our standards. We are also investing in new tools to help people understand and explore cryptocurrencies.
There was some concern about Ripple’s listing because it violates the rule in the Digital Asset Framework that states that only tokens where the team has a minority stake in the token supply are allowed for trading.
However, Ripple’s head of XRP market Miguel Vias said that it was “Coinbase’s independent decision”:
We’re happy to go on the record. Coinbase’s listing of XRP (also, not “our token”) was Coinbase’s independent decision – we did not give them anything to make it happen.
There has been some discussion about whether Ripple bought the listing on Coinbase, and there are accusations of the same for their listing on Gemini as well. For the moment, however, Vias’ statement is all that we have.
XRP price has not reacted significantly to the news of its listing yet, though if it does, it puts it in a yet another tussle with Ethereum for the second highest market cap.
Ripple has been the recipient of a lot of good news over the past few months. Ripple’s backers have been buoyant about Ripple’s prospects, with the president and representative director of SBI, Yoshitaka Kitao, recently saying that he expects every bank in Japan to use the XRP token by the 2025 Osaka Expo.