- Coinbase expands into the U.K. with wrapped XRP and more.
- XRP gains momentum with new wrapped assets on Coinbase platform.
- REX-Osprey XRP ETF hits $24 million in volume in 90 minutes.
Coinbase is making a strategic move in the U.K. with the launch of new wrapped assets on its platform, with XRP at the forefront. U.K. customers can now access Coinbase-wrapped versions of popular cryptocurrencies, including XRP. These assets include cbXRP, a wrapped version of Ripple’s XRP, as well as cbADA (Cardano), cbDOGE (Dogecoin), and cbLTC (Litecoin), all powered by Coinbase’s Ethereum layer-2 blockchain, Base.
For crypto investors in the U.K., this expansion represents a significant opportunity. The availability of wrapped XRP enables users to work with the digital asset in a more user-friendly environment, which enhances liquidity and facilitates easier trading.
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This is particularly critical when the demand for XRP is on the increase in the world market. With this new offering, Coinbase is set to attract new investors to its site and give more comprehensive trading opportunities to current clients. Customers in the U.K. can now interact with these assets on both the Coinbase mobile application and the Coinbase site, which gives them accessibility and flexibility.
What This Expansion Means for XRP Investors
The introduction of wrapped XRP to the U.K. market strengthens the token’s position within Coinbase’s broader ecosystem. By making XRP more accessible, Coinbase provides a bridge between the traditional finance world and the growing crypto sector.
Moreover, the Financial Conduct Authority (FCA) of the U.K. has been trying to establish more explicit rules for crypto services. This regulatory transparency plays a vital role in ensuring that Coinbase functions within the legal framework that can assure the users of this platform. Since regulatory markets in the U.K. are still developing, Coinbase’s actions could indicate a wider acceptance of cryptocurrencies, such as XRP.
The shift by Coinbase to scale up the wrapped assets, especially XRP, is good news for crypto investors seeking additional venues for trading and engaging with digital assets in the U.K.
XRP in the Spotlight with New U.S.-Listed ETF
In a related development, XRP continues to gain momentum across global markets. The launch of the REX-Osprey $XRP ETF (XRPP) has created a buzz in the digital asset world. Just 90 minutes after its launch, the ETF surpassed $24 million in trading volume, marking a significant achievement for digital asset investors. These new products offer direct spot exposure to XRP, which could pave the way for additional mainstream adoption of the asset.
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