Coinbase announced on Thursday it is now supporting XRP on its cryptocurrency platform, as well as its Android and iOS mobile apps. This news comes just days after Coinbase announced it was accepting inbound transfers of XRP to its Coinbase Pro service.
According to Coinbase, the crypto platform’s customers may now buy, sell, convert, send, receive, or store XRP. Inbound transfers and many sends require the specification of an XRP destination tag. XRP will be available for customers in most jurisdictions, but will not initially be available for residents of the UK or the state of New York. Coinbase then stated:
“XRP is the cryptocurrency used by the XRP ledger, which supports international currency exchange and remittances. The ledger is powered by a network of peer-to-peer servers. All accounts on this network can send or receive XRP to/from each other, while XRP can be used to send underlying fiat currencies between two parties. In this way, XRP can function as a bridge currency in transactions involving different currencies such as US dollars, Japanese yen, Euros, Francs, and others in use on the XRP network.”
Coinbase went on to add:
“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. We launched informational asset pages, as well as a new section of the Coinbase website to answer common questions about crypto.”