Coinbase, an American major cryptocurrency exchange has now expanded into cross-border payments. Users of the exchange could now transfer funds to any user with a Coinbase account around the world using Ripple (XRP) and the exchange’s stablecoin USDCoin (USDC) with no fee.
Coinbase revealed the development in an announcement on March 28. Reportedly, the development will enable users to send and receive money instantly, as well as convert them into local currency.
Coinbase introduced several new developments this past month, including a service that links user accounts on its main platform to its Coinbase Wallet app and a
new market structure for Coinbase Pro, the exchange’s professional trading platform. Reportedly the latter development is targeted to increase liquidity, enhance price discovery and ensure smoother price movements.
Last year in October Coinbase added support for USDC, making it the first stablecoin to trade on the platform. Purportedly, the token is 100 percent collateralized with U.S. dollars and was launched last fall by CENTRE, an affiliate of crypto payments firm Circle.
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