Major American crypto exchange and wallet provider Coinbase.com has launched support for Dash (DASH), an open-source cryptocurrency with a strong focus on the payments industry. The new coin is now available for retail investors through the company’s Android and iOS apps.
Announced last week, Coinbase has enabled Dash trading on the exchange’s professional platform, Coinbase Pro, beginning with Dash/USD and Dash/BTC trading pairs.
The move comes barely a few weeks after Coinbase said it’s exploring the possibility to add support for a new list of eight coins, including Dash that is currently the 15th largest cryptocurrency by market cap.
The announcement notes that Dash will be available to customers in all supported jurisdictions with the exception of the New York State and the United Kingdom due to their tighter regulations.
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Getting itself into hot water
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 coin was last valued at $100.36, with a market capitalization of $907 million. The trade volume over the past 24 hours showed growth, with a reported value of $359 million.
Dash offers a form of money that can be spent securely both online and in person with only minimal transaction fees. Based on the Bitcoin project, Dash is accepted at over 4,000 merchants worldwide, making it one of the most scalable payments systems in the crypto world.
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.”
While other exchanges offer a more extensive selection of cryptocurrencies to trade, Coinbase has elected to proceed cautiously while regulators evaluate the legal status of the 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.