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Coinbase Custody: What does this mean for XRP?

  • The DFS released a statement earlier this week approving Coinbase to allow Custodial services.
  • XRP gained momentum on this news rising from 2% down on the day to ending the day 2% up.
  • Does this mean that XRP will be listed on Coinbase?

BREAKING. For Immediate Release and Investments

A report released by the DFS or Department of Financial Services for New York State has approved Coinbase to create a trust to allow for Custodial Solutions to be offered to Institutions.

This has been the news that Cryptoassets have been waiting for, the continued acceptance by regulators to allow for Custodial Solutions. Custody means that Institutions who buy Crypto will have a place to safely store their Crypto before trading it on Exchanges or OTC/Over the Counter.

@FintechFrank, one of the lead reporters of TheBlockCrypto announced that one of his sources told him “Don’t move Frank. There’s more news.”

Could this Good news be that as a result of 5 of the 6 Crypto-Assets currently listed on Coinbase, XRP could finally be listed.

This is on the basis that currently Coinbase is one of several Exchanges that accept Fiat Currency. Nouvive Research has found that Market Sentiment and global awareness is higher for XRP/Ripple than it is for Bitcoin or Ethereum.

Majority of the public having heard about the success of XRP/Ripple would rather buy that than a costly $6000 Bitcoin or $200 ETH or even $60 LTC. A $0.45 XRP would be far greater as an entry point.

Not to mention the mere fact that as a result of Coinbase Custody having BTC, BCH, ETH, ETC, LTC and XRP – they would also list XRP as well for all the reasons mentioned above.

Do you Agree?

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Information on these pages contain speculative statements that involves risks and uncertainties. Crypto-Assets profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell. Nouvive does not in any way guarantee that this information is free from mistakes, errors or material misstatements. It does also not guarantee that this information is of a timely nature. Crypto-Assets involve risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing or trading are your responsibility alone. For more information, please view the Risk Warning Below.

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