Algorand was listed on Coinbase’s professional exchange Coinbase Pro in August 2019. It is also supported by Coinbase Custody, the exchange’s secure storage solution. Unlike some of Coinbase’s other listings, Algorand is available in all jurisdictions that Coinbase supports.
The Algorand token’s price has surged following the announcement, up 24% in the last 24 hours. The price is $0.350 at the time of publishing.
Coinbase has listed several tokens in the past 12 months, and the rate of addition appears to be increasing, possibly in order to compete with the likes of Binance, which launched the US counterpart of its platform in September 2019. Coinbase also competes with the Winklevoss-led Gemini Exchange, which distinguishes itself by focusing on compliance.
Most recently, Coinbase added DeFi asset Compound Finance (COMP) and Ethereum (ETH) scaling project OMG Network (OMG) to its platform. It has also been in the news as it’s account was one of many that was hacked in the recent Twitter hack debacle.