Coinbase Adds XLM On Its Trading Platform

Crypto currency exchange Coinbase added Stellar’s cryptocurrency, the Stellar Lumen (XLM) to its retail platforms.

Monday, Coinbase started supporting XLM at Coinbase.com and in the Coinbase Android and iOS apps. “Coinbase customers can now buy, sell, convert, send, receive, or store XLM”, a Coinbase blog post said. “Inbound transfers and many sends require the specification of an XLM destination tag.”

XLM will not initially be available for residents of the United Kingdom and New York.

Stellar Lumen powers the Stellar payment network. It aims to connect banks, payment systems and individuals quickly and reliably.

The San Francisco-based digital currency exchange currently offers access to bitcoin, bitcoin cash, ethereum, ethereum classic, litecoin, USDC, zcash, Brave’s Basic Attention Token, the 0x protocol token, Ripple (XRP) and withdrawals of bitcoin cash SV.

The addition of Stellar Lumens to Coinbase had a positive impact on its price. XLM/BTC, which was skirting around 0.00002700 BTC increased to 0.00002850 shortly after the announcement.

Coinbase is one of the best-known exchanges in the world, having more than 20 million users spread over 42 countries.

In response to increasing requests it receive from customers, the company plans to trade more crypto assets on its platform when they meet the exchanges standards.

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