Coinbase pro has announced the support for XRP to be launched soon to its users.
In a blog post, Team Coinbase Pro announced this development for users in the U.S., U.K., European Union member nations , Canada, Singapore, and Australia. The post also announced that more countries will be added later.
For the users, from 10am on February 25, Coinbase pro will begin accepting inbound transfers of XRP to Coinbase Pro. As the support is initiated for the first time, the deposits will be accepted for a minimum of 12 hours. Once sufficient supply of XRP is established on the platform, trading on the XRP/USD, XRP/EUR, and XRP/BTC order books will start.
The launch will be initiated in four steps:
Transfer-only: From 10am Pacific Time (PT) on Feb. 25, customers will be able to transfer XRP into their Coinbase Pro account. (no placing or filling orders)
Post-only: In the second stage, customers can post limit orders but there will be no matches.
Limit-only: In the third stage, limit orders will start matching but customers will be unable to submit market orders.
Full trading: In the last stage, full trading services will be available.
This addition of XRP to the index is a part of a movement by team CoinBase Pro to, as their blog post puts it, rapid listing of all assets that meet our standards and are compliant with local law. In August last year, it added support for Ethereum Classic (ETC) as well as the Basic Attention Token (BAT) and altcoin Zcash (ZEC) in November.
“..This new listing process allows us to quickly add assets while remaining compliant with local law and continuing to offer our customers the safe, high-quality experience they have come to expect from Coinbase”
— CoinBase Blog Post.
Photo by Vadim Fomenok on Unsplash