Coinbase Now Allows New York Users to Trade Dogwifhat
Coinbase users in New York can now trade the popular dog-themed meme coin Dogwifhat in one of the most tightly regulated cryptocurrency markets.
On December 3, Coinbase announced that Dogwifhat (WIF) is now available for users in New York to buy, sell, convert, send, receive, or store on the exchange’s website, iOS, and Android applications.
New York State has stringent regulations for cryptocurrency businesses, requiring companies to obtain either a BitLicense or a limited purpose trust charter from the New York State Department of Financial Services to operate in the state. Coinbase’s NYFDS license ensures that the platform meets high standards of consumer protection and operational integrity.
Dogwifhat was first listed for spot trading on Coinbase on November 14, leading to a more than 40% rally for the meme coin. The addition of Dogwifhat to Coinbase and its subsequent listing on Robinhood on November 25 have been viewed positively within the crypto community, signaling credibility and providing access to a wider investor base. As of the time of writing, Dogwifhat is trading at $3.23 with a market capitalization of $3.22 billion.
Following the listing of Dogwifhat, users have expressed optimism that the move will drive up WIF prices. However, some users have also called for Coinbase to consider listing other meme coins like Neiro (NEIRO). Coinbase’s current focus is on listing the TikTok-inspired meme coin Moo Deng, which is next in its listing roadmap.
In addition to adding Dogwifhat to its platform, Coinbase has integrated Apple Pay into its onramp platform on December 2 to enhance user experience. This integration allows users to complete transactions quickly and securely, benefiting from Apple Pay’s security measures.