Ripple is considered to be a payment protocol. In my opinion, the only reason they are considered cryptocurrency is because they use a blockchain. They don’t even use the ledger, which is the whole point of cryptocurrency and decentralization. However, I have my reasons to believe they will be added to Coinbase. The number one reason being to scale to the masses. While this may be speculation, I will provide links I used as resources to back up my thoughts. When you read this post from 2016 by Brian Armstrong, the CEO of Coinbase, you’ll come to phase four, which is where I believe we are very close to or will be by the end of 2018. https://blog.coinbase.com/the-coinbase-secret-master-plan-f4d644443301
The bullet points he lists in phase four, remittance is listed there, which is exactly what Ripple will provide at scale. Here are the other things listed:
So even though I, personally, am not a fan of Ripple, I do believe it might be in the plan to be listed on Coinbase. If you read through the requirements in the GDAX framework on a broad spectrum, they do meet the requirements, and I believe that is by design. https://www.gdax.com/static/digital-asset-framework-2017-11.pdf
Another interesting point in that same arena is that if you’re willing to pay the extra fees by using your credit card, you’ll receive your crypto instantly. Ripple could be the savior again here, being that they have partnered with American Express
, so this can lead to lowering fees and again, speeding up transactions. Also on a larger scale with the introduction of Custody
on CoinBase this could provide institutional money the warm fuzzies they need to move and store ERC20 tokens and more with Coinbase. This could also potentially turn Coinbase into the largest Crypto “Bank” and Exchange.(Maybe this is where all those [Boycott Coinbase] twitter handle changes are coming from? I will have to do more digging on that. But it would make sense as the crypto world wants decentralization.
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Long Live The Blockchain!