Leading U.S.-based cryptocurrency platform, Coinbase, has topped its long list of supported cryptocurrencies to enhance its trading capabilities for New York users, according to a recent tweet shared on July 8.
The new listing, which involves the addition of four new cryptocurrencies for residents in the New York region, comes after the exchange secured a major license from the New York State Department of Financial Services.
The license offers Coinbase the opportunity to operate as a regulated Virtual Currency Business within the region, boosting its regulatory trust and prominence in New York.
While New York is known for having stringent cryptocurrency rules, the license granted to Coinbase marks a major milestone for the exchange, signaling its growing recognition across multiple nations of the world.
Subsquid, Celestia, XYO and Bittensor now in New York
Following this major milestone, Coinbase revealed it has listed four new tokens in New York. The tokens include Subsquid (SQD), Celestia (TIA), XYO (XYO), and Bittensor (TAO).
The launch has made the tokens available on the Coinbase platform and in the Coinbase iOS and Android apps, allowing users to buy, sell, convert, send, receive, or store these assets to optimize their trading experiences.
While trading for the newly added tokens might not automatically appear for all users, users are encouraged to refresh their application to access trading services for the new tokens.
Prior to this latest update, Coinbase had initially announced the launch of the Subsquid (SQD) token in supported regions, including Coinbase.
While the project has continued to make waves in the crypto community, it is now available to residents in New York, suggesting growing demand for the fast-emerging crypto token across the global market.
This decision by Coinbase to expand its crypto offerings in a crypto non-friendly region highlights the exchange’s commitment to providing diverse trading opportunities and expanding its global presence while tackling regulatory hurdles.
Nonetheless, it is important to note that the new listings in New York came at a time when the crypto market was struggling amid mixed price actions, with major cryptocurrencies trading in the red.
As such, the newly listed tokens were also trading negatively at the time of the launch, despite the recent exposure to new potential users.
