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Coinbase expands to India, South Korea, New Zealand and 8 other countries by launching crypto-to-crypto trading services

Priya

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Coinbase expands to India, South Korea, New Zealand and 8 other countries by launching crypto-to-crypto trading servicesCoinbase expands to India, South Korea, New Zealand and 8 other countries by launching crypto-to-crypto trading services
Source: Unsplash

Coinbase, a leading cryptocurrency exchange platform, announced that it has expanded its crypto-to-crypto trading service in 11 more countries, on its official blog. With the addition of these new countries, the reach of Coinbase has expanded to a total of 53 countries.

According to the blog post, Coinbase has opened its trading door for cryptocurrency enthusiasts in India, Mexico, New Zealand, South Korea, Indonesia, Hong Kong, Phillippines, Chile, Columbia, Peru, and Argentina. Users will be able to avail crypto-to-crypto trading services such as buying and selling crypto on Coinbase Pro and Coinbase.com. In addition, customers can also buy and sell cryptocurrencies via the Coinbase app available on iOS and Android.

The official announcement read,

“Direct trading between cryptos is increasingly the new norm and in the last year has overtaken traditional fiat to crypto trading across the globe. Millions of Coinbase customers can now securely and quickly trade between different cryptos and send crypto off-platform at their convenience.”

More so, the blog stated that this was a part of the exchange’s mission of “creating an open financial system for the world”. It also stated that the cryptocurrency space is shifting from the “investment phase” to the “utility phase”, which would pave the path for new use cases. It further stated,

“This could take the form of decentralized versions of traditional financial services like lending or micropayments or truly novel crypto applications that no one has even thought of yet. The ability to convert from one crypto to another will form the backbone of this new decentralized economy.”

This news is extremely important for India’s crypto-community. This is mainly because of the ban placed by the Reserve Bank of India, the Central bank. Last year, the bank released a circular barring all the banks regulated by the central bank from associating with individuals and businesses involved with virtual currencies.

Due to the ban, some major local exchanges such as Zebpay had to shut down its operations. Even though Coinbase is providing only crypto-to-crypto trading, this does act as one of the most significant moments for the Indian crypto-community.



We found that marketplaces such as freelance websites stood to benefit greatly from Coinbase’s new expansion. We reached out to a business owner who ran a services marketplace called Eloboosta for League of Legends (One of the largest video games in the world). “We’ve already been accepting crypto on our website for a long time, but since the workers on our marketplace come from all over the world, we sort of shied away from paying them out in crypto since not all of them had an easy way to cash their crypto back out into fiat in their home countries. But now that Coinbase has expanded to 11 more countries we’re planning to make the switch to crypto only payouts in the near future, our workers couldn’t be happier due to the cost savings on transfer fees.”

Along with this, the exchange also announced that its customers will be able to trade Augur [REP], one of the leading cryptocurrencies in the space, beginning today. Notably, this trading service will not be available immediately for customers in New York. The trade will be live on Coinbase.com and Coinbase app on iOS and Android.





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Priya is a full-time member of the reporting team at AMBCrypto. She is a finance major with one year of writing experience. She has not held any value in Bitcoin or other currencies.

Altcoins

Tron DApp Weekly Report: Gambling apps leads the surge in Tron DApp numbers

Namrata Shukla

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Tron DApp Weekly Report: Tron DApps number led by Gambling apps
Source: Pixabay

Tron, the eleventh largest cryptocurrency on CoinMarketCap, recently collaborated with Bitpie, a partnership that would help startups to bridge the gap in vulnerable financial systems. Tron’s token might be lagging in terms of performance in the market but, Tron DApps continued to surge.

The DApp weekly report released by the Tron Foundation reported an increase of 22 DApps in the Tron ecosystem, taking the total to 392. It noted that gambling DApps mainly contributed to this growth as 17 DApps were gambling-based. Decentralized exchanges followed suit, as 3 new DApps made their way into the Tron DApp ecosystem. The main highlight for the entire Tron community was the partnership with Opera, a mainstream browser.

Tron introduced a DApp ‘Lucky Moon,’ an entertainment-based DApp that pushes users to estimate the current time to run away from the imploding rocket with a specific reward rate. As the rocket takes-off, the reward rate keeps increasing and the player will have to escape at the right time. An extension of this game is ‘Tyrant Annihilation,’ where users need to collect seven types of equipment to kill a tyrant. The DApp might have taken inspiration from The Avengers.



The report made note of the fact that the Tron public chain received support from Aocoin wallet, a decentralized secure digital currency wallet. My Token, a software company that specializes in market information has been integrated into Tronscan and TRX market, leading the way to user traffic in DApps ecosystem.

At press time, Tron was valued at $0.0283 with a market cap of $1.89 billion. The 24-hour trading volume of the coin was noted to be $690.34 as it reported 6.36% growth over the past day. The coin grew by 8.80% over the past seven days, but fell by 0.44% in an hour.





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