New details on Ripples Trying to be listed on Coinbase and Gemini

Meanwhile, it has become known how Ripple last year tried to be listed in the two major American Exchanges, Coinbase and Gemini. Although the company has offered some significant financial incentives, XRP has not been listed on any of the two Exchanges.

According to insiders, in the second half of 2017 Ripple made a massive attempt to have XRP listed at Gemini and Coinbase. A listing at the two exchanges would probably have driven the price of XRP upwards again. Because Gemini and Coinbase once again gave many investors the opportunity to buy XRP. The Coinbase app was even at times even number 1 in the American App Store (iOS).

To be listed on Gemini, Ripple offered the company $ 1 million in cash and also wanted to cover potential listing costs. So far, only Bitcoin and Ethereum can be traded on Gemini, the stock exchange operated by the Winkelvoss twins.

Even more attractive is Ripple offer to Coinbase failed. For the listing of XRP Ripple would have loaned the company XRP worth 100 million dollars, so that Coinbase has enough liquidity for XRP trading. The XRP would have been able to repay Coinbase in XRP or US dollars. Considering the fact that the XRP price has risen significantly as a result of the listing with Coinbase, Coinbase could have made a decent profit on the repayment in US dollars. If the price had doubled as a result, would have come together so quickly 100 million euros profit.

Like Gemini, Coinbase has decided not to list XRP. One of the main reasons for this may be that the classification of XRP in the US is still unclear. Some assume that XRP is a security token similar to a stock, as Ripple Labs still owns most of the tokens it owns. The US regulator, SEC, has not commented on that, either one way or the other. But if it turns out that XRP is a security token, then Coinbase and Gemini would need an exchange license to trade XRP. The whole procedure would be more similar to a listing on Nasdaq.

Finally, it should be noted that a listing of XRP at Coinbase and Gemini will not take place in the near future, at least not until the classification of XRP is clarified, even if there are always other rumors.