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XRP receives official support from Coinbase Custody; Ripple logo represents the coin

Priyamvada Singh



XRP receives official support from Coinbase Custody; Ripple logo represents the coin
Source: Pixabay

Coinbase, the largest platform for cryptocurrency trading and other related services in the US has officially added XRP under supported assets for Coinbase Custody. However, despite Ripple, the blockchain remittance firm that created XRP, attempting to dissociate itself from XRP for the sake of decentralization, Coinbase has kept Ripple’s logo to represent the coin on its official website.

During the last week of October, there was a buzz around the cryptocurrency space as the Department of Financial Services [DFS] of the United States announced its support for Coinbase to operate as a crypto-custody.

After Coinbase received approval from DFS, it revealed the name of six big coins that would be added to its Coinbase Custody Trust Company program. The list comprised of Bitcoin [BTC], Bitcoin Cash [BTC], Litecoin [LTC], XRP, Ethereum [ETH] and Ethereum Classic [ETC].

Despite being one of the coins to make the cut for custody services, XRP has still not acquired a listing on the trading platform of Coinbase. Moreover, all the other five cryptocurrencies already continue to trade on the exchange.

Skypilot_crypto, an XRP investor and cryptocurrency space enthusiast on the news stated:

“Even though I do hope coinbase list xrp, when they eventually do I still won’t buy my xrp through coinbase. Why would I when I’ve been buying it through others all this time anyway? What would be the point? If Only They listed it sooner. Timing is everything and they are late”

C3|Nik, the Twitter handle of another cryptocurrency and blockchain space follower also tweeted:

“XRP is officially listed as a supported asset on Coinbase Custody.
That does not imply trading support in the normal Coinbase App though.”

On Coinbase using Ripple Labs logo, Michael Nardolillo, an XRP fan, stated:

“With the wrong symbol lmao”

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Priyamvada is a full-time journalist at AMBCrypto. A graduate in Journalism & Communication from Manipal University, she believes blockchain technology to be a revolutionary tool in advancing the future. Currently, she holds no value in cryptocurrencies.

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