Ripple has been chasing Coinbase for over a year now. While Coinbase has announced that they’ll be adding more than a hundred cryptocurrencies very soon, NASDAQ will soon list Ripple’s XRP when it launches its crypto initiative in early 2019.
The foundation for this partnership has one issue- the market cap.
A source at NASDAQ said
“We aren’t interested in the noise. We are interested in scale. If we start this initiative with the top five or seven “security coins” by market capitalization, why would we exclude $XRP? There is no good reason to exclude them, at least the way that we are evaluating our work. Look at it this way – there is just as much noise around Bitcoin Cash as there ever has or ever will be around Ripple’s cryptocurrency. And Bitcoin Cash is listed almost ubiquitously across all exchanges. So we see no reason to exclude $XRP. Instead, we’ve learned in and embraced what they bring to the table. You really can’t argue that the firm has a top-notch executive team and is as buttoned up as you will find in crypto.”
A conversation with a Ripple employee confirmed their Nasdaq discussions:
“Yes, we’ve been in discussions with Nasdaq around their exchange initiative and have been willing to answer any and all due diligence questions. We believe in what we are doing here, our products and services, and $XRP as well. Nasdaq will ultimately be the final arbiter of who gets listed next year, but we believe we will be firmly in that group. Without giving too much away, the excitement around here for where this is headed is pretty fun to watch. The Nasdaq exchange and custody product is going to be something special.”
Being listed as on a forthcoming global exchange brand such as NASDAQ would remove the need to even get listed on Coinbase.