Gemini and Coinbase both declined to list Rippple’s XRP (TIKER: XRP.EXANTE) tokens even after the latter offered money, Bloomberg quotes people familiar with the matter as saying.
Although a number of banks worldwide have signed onto Ripple’s network and bought equity stakes in its business, the top US cryptocurrency exchanges are still reluctant to list its XRP token.
According to the report, aware that its success hinges in part on getting XRP listed on the top trading venues, last year the San Francisco-based company suggested paying financial incentives to Gemini and Coinbase.
Exchanges are wary of adding the tokens, considering XRP’s control by a single company has fueled speculation it could fall under that designation.
The people said Ripple executive asked whether a $1 million cash payment could persuade Gemini to list XRP in the third quarter.
Ripple company spokeswoman Emmalee Kremer told Bloomberg some of the information was inaccurate but declined to specify which details she was disputing.
“Regardless, Ripple has always been transparent about our focus on building and growing a strong XRP ecosystem,” she said. “We want XRP to be the most liquid digital asset possible to enable faster, cheaper global payments.”
Companies are required to pay for listings on the largest US stock exchanges, but they also must meet and maintain listing requirements. Gemini and Coinbase limit the cryptocurrencies that trade on their platforms.
Gemini customers can only trade Bitcoin (TIKER: BTC.EXANTE) and Ethereum (TIKER: ETH/USD.BITFINEX), Coinbase has Bitcoin, Bitcoin Cash (TIKER: BCH.EXANTE), Ethereum and Litecoin (TIKER: LTC/USD.BITFINEX).
By Siranush Ghazanchyan