Coinbase Opens Up Filecoin Trading, Token Price Jumps

The San Francisco-based crypto exchange is the latest to list Filecoin.

Cryptocurrency exchange Coinbase today listed Filecoin (FIL), two months after the coin launched on mainnet. Filecoin's price jumped by about 3% following the listing to $32. 

Filecoin is available in all Coinbase-supported regions and available at Coinbase’s website, as well as on Coinbase’s Android and iOS apps. 

The token, which launched in October,  had been a long time coming. Protocol Labs, the company that created Filecoin, raised $200 million in an ICO three years ago and planned to launch it far sooner.

Filecoin is, in effect, a decentralized Google Drive. Instead of letting Google host your files in a data center, a distributed network of computers hosts your encrypted files. 

The price of a single Filecoin is $31.99, a 3.94% increase in the past 24 hours.

 Coinbase is late to the game. The coin is already live on other major exchanges, among them Binance, Kraken and Huobi Global.