DAI is launching at https://t.co/iQARfimGvY and in the iOS and Android apps within the next 15 minutes. You may need to update your app to properly buy, sell, convert, send, receive, or store DAI. We will update when DAI is fully live. https://t.co/Uc74NHT3GH
— Coinbase (@coinbase) May 23, 2019
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 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.
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.