Coinbase Pro users received some good news this week, in their quest to have more tools and options to trade. In a blog post on April 8th, the American cryptocurrency exchange platform announced that it added support for three additional digital assets, on top of its already broad catalog.
Coinbase Pro is the professional version of the US-based exchange and wallet service. It will now have support for the EOS (EOS,) Augur (REP,) and Maker (MKR) cryptocurrencies in its platform.
New Trading Pairs
According to the blog post, Coinbase Pro will start accepting inbound transfers of the mentioned digital assets and accepted deposits for at least 12 hours prior to enabling the trade process. After enough liquidity is achieved, people will be able to perform trading on these order books:
EOS-USD, EOS-EUR, EOS-BTC (all Coinbase-supported regions excluding NY)
REP-USD, REP-EUR, REP-BTC (all Coinbase-supported regions excluding NY)
MKR-BTC, MKR-USDC (all Coinbase-supported regions outside the US)
In the publication, Coinbase Pro stated that the trading of EOS and REP will soon be available “in all jurisdictions supported by Coinbase Pro, with the exception of New York State. MKR will be available in all Coinbase Pro-supported jurisdictions outside the US. Additional regions may be added for each asset at a later date.”
A Little Bit More about the Supported Tokens
EOS, a widely used cryptocurrency and platform in China, is known for supporting the creation and development of decentralized apps (dApps,) posing a significant competitor for the Ethereum blockchain. With each passing day, more and more developers are switching to EOS.
On the other hand, REP is Augur’s Reputation token, a digital asset functioning on an open source, decentralized prediction market platform. REP can report and dispute the outcome of specific events on digital prediction markets. At the moment of writing this article, REP was exchanging hands at $21.68.
Maker, shortened to MKR, is based in the Ethereum blockchain. It is “a utility token, governance token, and recapitalization resource of the Maker system.” It is inside the top 20 cryptocurrencies according to CoinMarketCap’s market cap ranking, in the 19th spot. It was trading at $713.40 at the time of writing this piece.
Broadening the Options Offered
Coinbase Pro has a wide array of supported cryptocurrencies. It also recently added support for two up and coming projects that have achieved worldwide prominence: Stellar Lumens (XLM) and Ripple (XRP.) Now, both of them are offered in Coinbase.com as well, and the trading app for mobile operating systems iOS and Android.
This month, the American exchange successfully expanded its offerings to cross border payments, which means that its customers are now able to move funds to any person that holds a Coinbase account in the planet by using XRP and USDC (Coinbase’s stablecoin) with no additional fees. Thanks to the feature, clients will be allowed to send and receive funds instantly and convert them into their local currency.
Coinbase explained that “one of the most common requests we receive from customers is to be able to trade more assets on our platform. Per the terms of our listing process, we anticipate supporting more assets that meet our standards over time.”
By Andres Chavez