Coinbase Adds Digital Currency XRP to Pro Trading Platform

(Bloomberg) -- Coinbase Inc., one of the most popular U.S. exchanges to trade cryptocurrencies, is adding XRP to its platform, but only for certain users.

The company will begin listing the digital currency starting today for users of Coinbase Pro, its more sophisticated offering, according to a blog post Monday. After starting out with Bitcoin, San Francisco-based Coinbase has added a slew of others to the platform, including Ethereum, Litecoin and Bitcoin Cash.

“XRP trading will initially be accessible for Coinbase Pro users in the US (excluding NY), UK, supported European Union member nations, Canada, Singapore, and Australia,’’ the post says. “Additional jurisdictions may be added at a later date.’’

XRP was created for use on the Ripple payment protocol in 2012. Even though the digital token has been widely known as Ripple, the company makes the point that the coin is different than the open-source network and should be referred to as XRP.

Last year, Bloomberg reported that Ripple debated trying to buy its way onto exchanges including Coinbase. Brian Armstrong, Coinbase’s co-founder and chief executive, had voiced skepticism over XRP and others in the past. The exchange has since broadened its universe of coins offered.

Coinbase isn’t charging a listing fee, a spokesman said.

To contact the reporter on this story: Julie Verhage in New York at jverhage2@bloomberg.net

To contact the editors responsible for this story: Mark Milian at mmilian@bloomberg.net, ;Jeremy Herron at jherron8@bloomberg.net, Dave Liedtka, Brendan Walsh

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