Major Crypto Exchange and Wallet Coinbase Adds Support for Stellar Lumens

United States-based cryptocurrency exchange and wallet service provider Coinbase has added support for Stellar Lumens, according to an announcement published on March 18.

The update states that users can now store, buy, and send Stellar’s cryptocurrency, the Stellar Lumen (XLM), on the Coinbase website, as well as on the Coinbase iOS and Android apps.

The publication underlines that the newly added cryptocurrency will be available for the majority of the customers, with the exception of Coinbase users in the United Kingdom or in the U.S. state of New York.

Last week, the company’s professional trading platform, Coinbase Pro, announced the start of accepting XLM deposits.

As Cointelegraph reported on March 17 in a market analysis, the price of the Stellar’s cryptocurrency XLM has risen sharply, making XLM the best performing major cryptocurrency of the past week.

Yesterday, IBM and Stellar jointly announced that six international banks have signed letter of intent to issue their own fiat-backed stablecoins on IBM’s cross-border payment network, which is based on Stellar.

At press time, XLM has gained around 5.66 percent on the day and is trading around $0.115, according to data from CoinMarketCap.