A new crypto token focused on banking just received a boost from Coinbase, the top US-based crypto exchange by trading volume.
Coinbase first revealed it had added Rayls (RLS) to the platform’s “listing roadmap” after Thanksgiving.
Coinbase established the listing roadmap in 2022 to increase transparency, and reduce the risks of front-running and insider trading.
Today, Coinbase announced that RLS had officially gone live.
“Rayls (RLS) is now live on coinbase.com and in the Coinbase app. Coinbase customers can log in to buy, sell, convert, send, receive or store these assets.”
According to the official X account of Rayls Labs, the firm behind the token, the network aims to host “the next era of finance.”
Rayls is an Ethereum Virtual Machine (EVM)-based blockchain designed to bridge traditional finance and decentralized finance, aiming to pull some of the roughly $100 trillion in TradFi liquidity into the DeFi ecosystem.
The project’s name blends “rail,” a nod to the financial rails that move money around the world, with “ray,” evoking a beam of light and the speed it represents.
Amid the support from Coinbase, RLS initially crashed from $.036 to $0.026. It has since moved to $.028 at time of writing.
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