The self-custody Coinbase wallet to delist top cryptocurrencies Bitcoin Cash (BCH), Ethereum Classic (ETC), Ripple (XRP), and Stellar (XLM), and its associated networks starting from January 2023 citing low usage and activity.
According to the announcement, any balances of these assets held in a Coinbase exchange account will not be impacted, the changes are only relevant to Coinbase Wallet app.
Ripple’s XRP is one of the top 10 cryptocurrency, with a market cap of $20.3 billion at the time of writing. BCH and ETC are forked versions of Bitcoin and Ethereum, respectively. Stellar is also developed by a Ripple co-founder.
Any unsupported asset that the user holds will continue to be linked to their addresses and will be accessible via the recovery phrase associated with their Coinbase Wallet.
In order for users to view or transfer these assets after the month of January, they will be required to import the recovery phrase into a different non-custodial wallet provider that supports these networks.
Compiled by Coinbold