Coinbase has broadened its crypto offerings for German users by adding eight new altcoins: Rocket Pool (RPL), Reserve Rights (RSR), Pudgy Penguins (PENGU), Renzo (REZ), Aethir (ATH), Syrup (SYRUP), Pendle (PENDLE), and Layer3 (L3). This expansion follows Coinbase's regulatory approval by Germany's BaFin in 2021, allowing it to legally provide trading and custody services within the country.
German users can now buy, sell, convert, send, receive, and store these tokens via Coinbase's website and mobile apps. Users may need to refresh their apps to access the new listings.
Among the coins, Rocket Pool (RPL), a decentralized Ethereum staking platform, saw a price increase of 2.38%, trading at $4.74 post-announcement. Reserve Rights (RSR), a token involved in stabilizing decentralized stablecoins, supports inflation-resistant financial tools with a daily trading volume surpassing $16 million. Pudgy Penguins (PENGU), linked to a popular NFT collection, aims to grow its European community through Coinbase.
Aethir (ATH) recorded an impressive price gain exceeding 9.99%, driven by demand for decentralized cloud infrastructure focused on GPU sharing for AI and metaverse tasks. Renzo (REZ) supports Ethereum restaking and now has expanded German market access. Layer3 (L3) facilitates onboarding of new Web3 users through incentivized learning and rewards for exploring decentralized applications.
The DeFi tokens Syrup (SYRUP) and Pendle (PENDLE) complete the listing, with Pendle enabling future yield trading and Syrup supporting tokenized lending. Both have substantial daily volumes, despite slight price dips.
This move aligns with Coinbase's strategic effort to enhance its European presence and reinforce its leadership in regulated crypto markets, potentially driving adoption and trading volume growth for these altcoins in Germany.