Coinbase investigating transaction delays on its financial platform

The Coinbase application on a smartphone arranged in Hastings-on-Hudson, New York, U.S., on Monday, Jan. 4, 2021. Coinbase Inc. knew cryptocurrency XRP was a security rather than a commodity and
The Coinbase application on a smartphone arranged in Hastings-on-Hudson, New York, U.S., on Monday, Jan. 4, 2021. Coinbase Inc. knew cryptocurrency XRP was a security rather than a commodity and "illegally" sold Ripple Labs Inc.'s tokens anyway, a customer argues in a proposed class-action lawsuit over the commissions the crypto exchange collected. Photographer: Tiffany Hagler-Geard/Bloomberg (Bloomberg)
Premium
 1 min read . Updated: 06 Apr 2021, 05:42 PM IST Niket Nishant, Reuters

Coinbase Global, the largest US cryptocurrency exchange, said on Tuesday it was investigating issues that are causing delays in deposits and withdrawals on its Stellar platform

BENGALURU : Coinbase Global Inc, the largest US cryptocurrency exchange, said on Tuesday it was investigating issues that are causing delays in deposits and withdrawals on its Stellar platform.

Stellar is its secure platform that connects banks, payments systems and users in a network and has its own cryptocurrency called Stellar Lumen, according to its website.

TRENDING STORIESSee All

Users can turn traditional assets and currencies into tokens, which can then be transferred to other users of the platform.

Last week, the exchange said it had received approval from the US Securities and Exchange Commission to list on the Nasdaq, marking a tacit regulatory approval for the cryptocurrencies traded on its platform and a victory for advocates of digital currencies.

The San Francisco-based company, which opted for a direct listing instead of an initial public offering, plans to start trading on April 14.

Coinbase was valued at around $68 billion in the private market, thanks to a surge in mainstream acceptance of Bitcoin , the world's largest virtual currency.

Subscribe to Mint Newsletters
* Enter a valid email
* Thank you for subscribing to our newsletter.

Click here to read the Mint ePaperMint is now on Telegram. Join Mint channel in your Telegram and stay updated with the latest business news.

Close