Coinbase.com, a major American cryptocurrency exchange and wallet provider, has announced support for Dash (DASH), a free-to-use cryptocurrency that focuses on the payments sector. Retail investors can now access the new coin via the company’s Android or iOS apps.
Coinbase announced last week that Dash trading has been enabled on its professional platform, Coinbase Pro. It began with Dash/USD trading pairs and Dash/BTC trading pairs.
This move comes just a few weeks after Coinbase stated it was exploring the possibility of adding support for eight new coins, including Dash, which is currently the 15th most valuable cryptocurrency according to market cap.
Dash will be available for customers in all supported jurisdictions, with the exception of New York State and the United Kingdom because they have stricter regulations.
Hot water for yourself
The latest member of the cryptocurrency family barely reacted to the news, rising nearly three percent at the time of writing this article, according to CoinMarketCap.
The last value of the coin was $100.36. It has a market capitalization in excess of $907 million. Trade volume for the last 24 hours was up, with a reported value at $359 million.
Dash is a secure form of money that can both be used online and in person. There are very few transaction fees. Dash, which is based on the Bitcoin project has been accepted by over 4,000 merchants around the world, making it one the most scalable payment systems in crypto.
Coinbase said earlier it is working with local banks and regulators to make these new cryptocurrencies available for its customers in as many jurisdictions as possible, saying the process often requires “significant exploratory work from both a technical and compliance standpoint.”
Coinbase is not as open to trading cryptocurrencies as other exchanges. However, Coinbase chose to be cautious while regulators assess the legal status of new assets. However, the company has had a string of recent announcements in a major push to attract crypto traders and grow its user base.