Adoption of XRP by Coinbased Was Delayed
Many people had wondered why XRP was not listed on Coinbase for such a significant period of time. Whether it was due to personal conflicts between the two parties, or to the uncertainty surrounding the classification of XRP as a security by the Securities and Exchange Commission in the United States is unknown.The delay with the original listing of the currency on Coinbase may have been due to ongoing testing of this new feature. The announcement comes within a short period of time since the decision to list. All things considered, it is the first noteworthy feature of its kind. Undoubtedly, there would have been a thorough testing period before releasing the offering.
Whatever the reason, the issues now seem to be resolved. The coin was listed in late-February. In addition, Coinbase recently announced that their users will be able to send money to other users internationally for free. This will be done instantly using XRP or their USDC stablecoin. That said, there will be a small user fee to send money outside of Coinbase.
Coinbase' Reason for the Change Unclear But Welcomed
While Ripple offers something similar to banks, there has been no need for XRP settlements between individual, until now. Certainly, the move comes as a welcomed surprise for XRP enthusiasts as well as Coinbase users.Coinbase's motives have come under scrutiny in recent times. Most notably, the acquisition of blockchain analytics start-up Neutrino has raised some eyebrows. Their strength has always been in ensuring ease-of-use with their applications. In fact, this announcement is significant because it removes the need for banks as vehicles to transfer money worldwide.
In many ways, cryptocurrencies are much more efficient, safer, and don't require as many fee payments.
XRP image licensed via Shutterstock
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