Coinbase Wallet Will No Longer Support XRP As Of January 2023

Coinbase Wallet has declared that as of January 2023, it will stop supporting XRP, BCH, XLM and ETC, the tokens are no longer supported due to their low usage. The update was released today.

Customers were taken aback by the cryptocurrency company’s announcement today, which listed the four major tokens (Bitcoin Cash, Ethereum Classic, Stellar, and XRP) that the platform will no longer support.

As of January 2023, Coinbase Wallet will no longer be supporting the following assets and networks due to low usage: BCH, ETC, XLM and XRP.

Supported assets and networks, Coinbase

Having said that, Coinbase affirmed to customers that the assets related to these four tokens will not be lost, and the tokens are accessible via the Coinbase Wallet recovery phrase. After January 2023, however, any actions made with unsupported tokens will cause losses.

The four tokens will no longer have access to dApps and the networks that they support as a result of the platform’s revocation of support. Additionally, the adjustment reduces the number of available pools accessible through Coinbase.

The justification for XRP’s lack of support outside of Coinbase’s claims of low usage has not been revealed. Coinbase offers a huge selection of networks including Polygon, BNB Chain, Optimism, Ethereum and EVM-compatible networks, regardless of the reduction.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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