A fundamental link between the world of digital currency and the long-established, traditional way of banking is Ripple, credibly designed to revamp how financial companies deal with moving money. But now, Ripple is working non-stop to get listed on the two large scale US-cased cryptocurrency exchanges, Coinbase and Gemini.
Last year, anonymous sources reported that Ripple offered to pay around $100 million in XRP to Coinbase and a cash payment of $1 million to Gemini, the cryptocurrencies market leaders, in exchange for a listing. This is, to some extent, a standard practice performed by companies that want their digital currencies listed with the top exchanges.
The sources revealed that both exchanges decided not to chase up on the offers.
At the moment, Gemini trades with only Ether and Bitcoin, the two major cryptocurrencies whereas Coinbase has a more option on their platform with the likes of Bitcoin Cash Litecoin, and Ether. Now, the Winklevoss twins, famous for their dispute over Facebook with Mark Zuckerberg and being co-founders of Gemini, said that they were looking to grow with plans to bring onboard Bitcoin Cash and Litecoin sometime in the near future.
Because of warnings by the U.S Government on unlicensed exchanges in listing virtual coins, Coinbase and Gemini are most likely going to turn down listing Ripple.
However, recent news has suggested that Coinbase will be moving to Japan to commence development in Asia. Due to the high amount of investors and cryptocurrency followers, Japan is seen as one of the home countries of digital currencies and blockchain technologies.
Now this decision isn’t a huge surprise, but the move could have huge effect for many other cryptocurrencies following the relocation. There is a possibility that Ripple could get listed to Coinbase due to this move.
The Japanese Government allows cryptocurrency exchange platforms to work in their area with feasible requirements which are needed in order to be satisfied, unlike their American counterparts. In the Asian country, cryptocurrency exchanges must be licensed so that they comply with some crypto regulations devised to protect the interests of the investor and that of the digital currency. This means that the Japanese regulations are therefore not created to slow down the process of digital currency exchange platforms.
However, no matter what, Coinbase will have to acquire a valid license to show commitment to regulations that Japan has about cryptocurrency before they relocate to the country.
In Japan, XRP is a very well known and admired coin. This is due to it being the third biggest cryptocurrency on the market. Adding to this, it is also the most used virtual coin in Japan which makes it the best option for Coinbase to add to their listing as soon as possible after they arrive in the country.