Coinbase supports stellar lumens trading in New York

Coinbase Adds Stellar Lumens Trading in New York

The popular crypto trading platform Coinbase of the US is now supporting Stellar’s Lumens (XLM) trade in the city of New York. The NY residents can now trade, transact and store Stellar Lumens. They can make the transactions via both the official website or iOS and Android apps.

After the implementation of strict crypto regulations in the state, many firms avoid service offering to NY residents. Since 2015, BitLicense has become mandatory for every crypto exchange in New York. Besides, the financial regulators oversee every cryptocurrency on the trading platforms. However, Coinbase is now enabling the NY residents to trade on its platform.

Earlier this month, Coinbase launched the USDC Bootstrap Fund for the development of Decentralized Finance (DeFi). The main purpose of this fund was to offer more liquidity to DeFi protocols. The firm invested around $2 million USDC in DeFi protocols Compound and dYdX. These two were the first two investments of Coinbase’s USDC Bootstrap Fund.  Besides, the firm also named smart contracts among its possible investments. Besides, the firm also named smart contracts among its possible investments. Also, in July, the firm announced the listing of tezos (XTZ) cryptocurrency on Coinbase Pro. Tezos began trading last month on the trading platform, as per the source.