Coinbase on Monday began accepting inbound transfers of two Solana ecosystem tokens, FIDA and ORCA, confirming CoinDesk’s earlier reporting.
Announced in a tweet (per a new policy), the expansion adds SPL tokens (Solana’s ERC-20 equivalent) to Coinbase’s token menagerie for the first time. It previously stuck to layer 1 coins and tokens built atop the Ethereum blockchain.
Orca and Bonfida are decentralized exchanges for Solana-based assets, including wrapped tokens.
Already in the green for the day, ORCA rallied within minutes of Coinbase’s announcement before giving much of the gains back by press time. FIDA dropped.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is an award-winning media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. In November 2023, CoinDesk was acquired by Bullish group, owner of Bullish, a regulated, institutional digital assets exchange. Bullish group is majority owned by Block.one; both groups have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary, and an editorial committee, chaired by a former editor-in-chief of The Wall Street Journal, is being formed to support journalistic integrity.