CoinCheck, a Japan-based digital currency exchange, has added the seventh-ranking cryptocurrency, Ripple’s XRP, to its list of available coins. This new development came after Ripple’s court case which was considered a significant breakthrough for crypto. The announcement was made via a tweet from CoinCheck, which also revealed the platform’s decision to list five additional digital assets: Ethereum (ETH), Shiba Inu (SHIB), NEM (XEM), IOST (IOST) and Enjin Coin (ENJ).
Coincheck, which ranks 48th among global crypto exchanges, initially revealed the listings in a post on August 30. CoinCheck’s decision to include these digital currencies reflects the company’s ongoing attempts to diversify its products and provide consumers with a broader selection of crypto assets.
Also Read: Ripple to Enhance XRP Ledger with Smart Contracts and EVM Sidechain
XRP gets a boost following Ripple’s Legal Win
It is important to note that XRP got listed on the exchange following Ripple’s big legal win. Ripple chief executive officer Brad Garlinghouse was elated after triumphing in the court case that went up against the United States of America Securities and Exchange Commission for four years. Garlinghouse ensured everyone understood that the victory was not only for Ripple but for the entire crypto community that observed the legal case. The legal decision has again created positive sentiment for XRP; therefore, its CoinCheck listing carries more weight.
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Including other cryptocurrencies, such as Ethereum and Shiba Inu, strengthens CoinCheck’s position as a competitive participant in the cryptocurrency exchange industry. The platform intends to give its users access to a larger assortment of assets, catering to experienced traders and novice investors in the field.
Conclusion
CoinCheck’s decision to allow customers to purchase XRP and five other digital currencies could not have come at a better time for both the exchange and the crypto space. After Ripple’s legal victory, which boosted the XRP token in the market, the new listing is also expected to attract traders’ attention and consolidate CoinCheck’s market standing as an international crypto exchange.
Also Read: Ripple’s CTO David Schwartz Refutes Claims of Suppressing XRP Price
Maxwell Mutuma
Maxwell is a crypto-economic analyst and Blockchain enthusiast, passionate about helping people understand the potential of decentralized technology. He writes extensively on topics such as blockchain, cryptocurrency, tokens, and more for top publications such as Coingape, Coin Edition, and The Coin Republic. His goal is to spread knowledge about this revolutionary technology and its implications for economic freedom and social good.