Coinbase opens DAI trading to its retail customers

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Ibis
May 24, 2019

Coinbase has added support for MakerDAO’s stablecoin DAI to its exchange platform, as well as its iOS and Android apps. According to the announcement, Coinbase’s users can now “buy, sell, convert, send, receive, or store DAI.”

DAI will be made immediately available to customers in most jurisdictions, with the exception of New York. While the company hasn’t elaborated as to why, it could be that they’re waiting on approval from the state’s Department of Financial Services, which reserved the right to approve new token listings on Coinbase in the past.


Coinbase already provides trading support for USDC in 85 different countries, which prompted quick comparisons between the two US dollar-pegged stablecoins:

For the most part however, the news was considered particularly bullish for MakerDAO’s governance coin, MKR:

Some were even, ahem, bullish on DAI:

MKRDAI
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Ibis
May 24, 2019

Assets from this insight

Maker logo

MakerMKR

$ 508.17

7.24%in last 7d
Multi-collateral DAI logo

Multi-collateral DAIDAI

$ 1.00

0.06%in last 7d