Coinbase Adds Support for Dai (DAI) on Its Retail Platform

San Francisco-based crypto exchange Coinbase announced Thursday that it has officially listed Maker’s (MKR) stablecoin Dai (DAI) on its retail trading platform.

According to the announcement, Coinbase now supports DAI on the main website, as well as the Android and iOS apps. The exchange notes that while investors in the United States can now freely buy and sell the stablecoin, investors in New York will have to wait until Coinbase receives regulatory approval in the jurisdiction.

DAI/USD (Coinbase)

DAI is a decentralized stablecoin running on Ethereum that was designed with a goal of maintaining a target value of approximately $1.00. Instead of being backed by fiat, DAI is backed by collateral on the Maker platform.

More: Dai (DAI) is now available on Coinbase

Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.

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