Coinbase opens access to DeFi tokens for New York residents

The cryptocurrency exchange Coinbase has begun allowing New York residents to trade a selection of DeFi tokens, including Aave, Uniswap and yEarn.Finance.

Aave (AAVE), Balancer (BAL), Band Protocol (BAND), Bancor (BNT), Compound (COMP), The Graph (GRT), Loopring (LRC), Maker (MKR), Ren (REN), Synthetix (SNX), Uniswap (UNI), Wrapped Bitcoin (WBTC) & https://t.co/MhFamYzNUF (YFI) are now available to New York residents. pic.twitter.com/nt8rXyTUvU

— Coinbase (@coinbase) March 1, 2021

The trading platform noted that residents can now buy, sell, convert, send, receive, or store these assets. The features are available on Coinbase’s website and in mobile apps.

New York residents can log in to buy, sell, convert, send, receive, or store these assets at https://t.co/bCG11KMQ6s and in the Coinbase iOS and Android apps.

— Coinbase (@coinbase) March 1, 2021

Earlier, the U.S. Securities and Exchange Commission approved Coinbase‘s application for a direct listing of shares. The company’s anticipated market capitalization exceeded $100 billion — such an assessment is formed by traders on Nasdaq Private Market, where the shares are currently traded.

The largest Coinbase shareholder is venture capital firm Andreessen Horowitz — more than 5.5 million Class A shares. At $395 per share, its stake would be worth $2.17 billion.

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