It looks like XRP, the crypto asset created by Ripple, is finally available for residents of the state of New York if they use Coinbase. According to a recent tweet of the company, people from the state will now be able to buy, sell, receive, send and convert XRP tokens, as well as store them, obviously.

XRP (XRP) is now available to Coinbase users who are New York residents. New Yorkers can now log in to buy, sell, convert, send, receive, or store XRP on https://t.co/bCG11KMQ6s or using our iOS and Android apps.https://t.co/5VE1WklrWo pic.twitter.com/Zp5odgaoHs

— Coinbase (@coinbase) May 13, 2019

However, as reported by some crypto media outlets, the actual trading of XRP was still not available for the residents when the announcement happened but it will probably be very soon.

Now, people in the state of New York will be able to trade six kinds of assets: Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Ethereum Classic (ETC), Litecoin (LTC) and Ripple’s XRP.

Why This is Such A Big Deal

It is very hard to offer financial services in New York. If you remember that Wall Street, the most powerful financial hub of the world, is there, it makes sense. Only big boys can play in New York.

Because of this, it is a huge win for companies and their clients when they are able to convince the regulators that they are worthy of being there.

About Coinbase And Ripple

Coinbase is a cryptocurrency exchange created in 2012 by Brian Armstrong, which is still the CEO of the company. Its headquarters are in San Francisco, California, and it is often considered to be the most important cryptocurrency exchange in the United States. At the moment, the company offers over 32 assets.

Ripple Labs is the company that created the XRP token and the Ripple protocol, as well as payment solutions like xVia, xRapid, and xCurrent. The company was also founded in 2012, this time by Chris Larsen and Jeb McCaleb. The main goal of the company is the development of a disruptive solution for cross-border transfers like what SWIFT does.

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