Coinbase Adds Three Crypto Assets
Altseason seems to be really on the horizon. Just minutes ago, Coinbase Pro, the professional trader-centric installment of Coinbase, has revealed that it will be adding three crypto assets, EOS (EOS), Augur (REP), and Maker (MKR). As with previous launches, the popular exchange will be first accepting deposits of the popular cryptocurrencies for 12 hours prior to the enabling of trading.
EOS (EOS-USD, EOS-EUR, EOS-BTC pairs) and REP (REP-USD, REP-EUR, REP-BTC pairs) support will be available in all jurisdictions that Coinbase Pro operates in, save for New York State.
MKR (MKR-BTC, MKR-USDC pairs), on the other hand, will be in all Coinbase Pro jurisdictions outside the U.S., presumably due to regulatory concerns. Funnily enough, this is technically the second time that MKR has launched on Coinbase, as the Ethereum-based token first garnered the support of Pro in select jurisditions only late last year.
It is important to note that for now, these digital assets will not be available on Coinbase’s expansive roster of products, but just Pro for now.
Like previous launches, the launch of these crypto assets will be done in a four-step process. The phases are as follows:
- Transfer-only — Only deposits of the cryptocurrency
- Post-only — This phase will allow investors and clients of Pro to place limit orders for the XRP trading pairs. Order books will be in post-only mode for a minimum of one minute.
- Limit-only — This is the final stage before full trading. This phase will see Coinbase’s trading engine matching limit orders, but not market orders. Order books will be in limit-only mode for a minimum of ten minutes.
- Full Trading — In the final stage, full trading services will be available, including limit, market, and stop orders.
Title Image Courtesy of Marco Verch Via Flickr