Why Ripple (XRP) and 0x (ZRX) May Never Get Coinbase Integration…

Coinbase is the pinnacle of cryptocurrency exchanges and getting listed on it provides benefits every other coin would wish to have. Other than being seen as an endorsement of the project, it offers a pathway to growth via exposure to new investors, especially in emerging markets like the US. Will Ripple (XRP) and 0x (ZRX) get on Coinbase?

Ripple (XRP)

Ripple is the third-largest cryptocurrency by market capitalization, and thus meets part of the original criteria for listing.

When Coinbase revealed that they’d be adding Ethereum Classic (ETC), many questioned why the site hadn’t chosen to add support for XRP.

As it stands, XRP may not get on Coinbase any time soon. First, it’s due to early revelations of attempted bribery. Secondly, according to Coinbase, it doesn’t meet all the requirements, least of all the issues of legal ramifications and pending cases.

Something else, the crypto continues to be categorized as centralized with over 80% of the coins held by the parent company.

In early June, Coinbase revealed that what should have been a moment of great news for all crypto, XRP included. They had said that they were “excited to announce that {we’re on} track to become a US-regulated blockchain securities trading venue. We believe this is an important moment not only for Coinbase but the entire crypto ecosystem.”

But as it turns out, that won’t be the case for Ripple. All along, the San Francisco based company behind the crypto has maintained that the coin isn’t a security. So, the US-based site won’t add it on one principle: the crypto maintains it’s not a security and it can’t suddenly turn and say it is.

As with regard to whether it’s a security or not, head of marketing Cory Johnson had earlier maintained that:

“Coinbase never ever raised the issue of whether or not XRP is a security in our discussions about listing XRP. We’re 100 percent clear, it’s not a security. We don’t meet the standards.”

Pending cases

There are those allegations that have come to the fore again regarding XRP. Two class action lawsuits allege that the company sells and aggressively promote the coin. As such, investors buy in the hope that they are going to make profits. The cases are in court and even though Ripple may succeed in clarifying how it’s not a security, I don’t see the exchange jumping onto the decision and simply list the coin.

0x (ZRX)

0x is an open-source and permissionless protocol that allows users to utilize its ZRX token to trade any other ERC20 token on the Ethereum network. Many see it as a revolutionary platform that will change how tokens are traded.

That hype means that there has been strong speculation that Coinbase may add 0x since it acquired Paradex earlier in the year.

The platform has a lot of advantages going for it, which could easily qualify it for listing on the crypto exchange. 0x does meet all the requirements as set up by Coinbase for its GDAX listing via the Digital Asset Framework.

In early March, the exchange stated that they were only going to list assets that meet the conditions. The ZRX token fulfills requirements regarding decentralization, economic freedom, and legal compliance

And so, while that could still be enough to make it happen, there is a growing feeling that it’s very much unlikely. 0x allows investors to trade virtual coins and tokens directly with each other. As such, 0x could be seen as a platform that provides direct competition to GDAX. One other thing is the cryptocurrency’s objective of making centralized exchanges obsolete. It may be a counter-point to the coin’s efforts to get on one of the world’s premier traditional exchanges. But there’s more that alludes to the end of hopes for ZRX getting onto Coinbase.

Recent developments

And it all has to do with recent developments. Coinbase is in the process of getting the regulatory go-ahead to start adding blockchain/crypto security assets.

“If approved, Coinbase will be capable of offering blockchain-based securities, under the oversight of the US Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA)”

This development may mean it no longer needs to use the services provided by 0x (ZRX). Even though the token qualifies to be added, it may not serve any value to the site. It thus means its more lucrative for it to look at other coins with attractive propositions and which meet all the requirements.

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