Coinbase just launched $AXL trading in New York.

Coinbase Brings Axelar to New York

@coinbase, as announced by @CoinbaseMarkets, has made @axelar's native token $AXL available to trade in New York State, one of the most tightly regulated crypto markets in the United States. Exchanges operating in New York must obtain a BitLicense from the New York State Department of Financial Services (NYDFS), and Coinbase has held that licence since 2017, allowing it to list a select group of digital assets that clear the state's regulatory bar.

The addition of $AXL gives New York-based traders a compliant, regulated route to access the token. Previously, exposure was largely limited to decentralised exchanges or platforms that do not serve New York residents.

What is Axelar and Where Does $AXL Stand?

Axelar is a cross-chain communication protocol designed to let decentralised applications interact across different blockchain networks, including Ethereum, Cosmos, and Avalanche. Its native token, $AXL, is used for network transaction fees, governance, and staking to secure the protocol.

At the time of writing, $AXL carries a market cap of approximately $67 million, a fraction of where it once traded. According to CoinGecko, the token reached an all-time high of $2.64 and is currently trading roughly 97% below that peak. The gap between its current valuation and former highs will be watched closely now that a major regulated venue has opened the door for a broader class of investors.

The New York listing reflects a broader pattern of institutional and retail interest in interoperability infrastructure, as developers and users increasingly demand that blockchain applications work seamlessly across chains rather than in isolation.

Sources
Bitcoin World: Coinbase Expands New York Offerings With Axelar (AXL) Trading
CoinGecko: Axelar (AXL) Price and Market Data