Coinbase investigating transaction delays on its financial platform
(Reuters) - Coinbase Global Inc, the largest U.S. cryptocurrency exchange, announced Tuesday it was investigating issues that are causing delays in making deposits and withdrawals on its Stellar platform.
Stellar is its secure platform that connects banks, payment systems and users in one network and, according to its website, has its own cryptocurrency called Stellar Lumen.
Users can convert traditional assets and currencies into tokens, which can then be transferred to other users of the platform.
Last week the exchange announced that it had received approval from the US Securities and Exchange Commission to list on the Nasdaq. This was tacit government approval for the cryptocurrencies traded on their platform and a victory for digital currency advocates.
The San Francisco-based company, which opted to go direct rather than an initial public offering, plans to begin trading on April 14th.
Coinbase was valued at around $ 68 billion in the private market thanks to the increasing mainstream adoption of Bitcoin, the world's largest virtual currency.
(This story corrects typing errors in paragraph 1)
(Reporting by Niket Nishant in Bengaluru; editing by Arun Koyyur)
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