The official Twitter account of Coinbase Pro has announced the debut of a new cryptocurrency on the well-known cryptocurrency exchange. From Monday 5th August it will be possible to deposit Tezos (XTZ) on Coinbase Pro and be prepared for the opening of trading.
The support will be guaranteed only on Coinbase Pro
Support for XTZ will be available in jurisdictions supported by Coinbase, with the exception of the State of New York. Other countries may be added at a later date.
Trading between XTZ/USD and XTZ/BTC will initially be accessible in several phases, going from post-only to full trading only if the metrics imposed by Coinbase are met.
At first, XTZ will not be available on the classic Coinbase.com or on the corresponding mobile app. Coinbase points out that a separate announcement will be made should such an eventuality arise.
The phases of the launch of XTZ
There will be four main phases for the launch of Tezos on Coinbase Pro. Each phase will be anticipated by a tweet on the official Twitter account of the exchange.
- Transfer-only. From Monday, August 5th, customers will be able to deposit XTZ to their Coinbase Pro account, but they will not be able to place any orders yet
- Post-only. In the second phase, customers will be able to place limited orders but these will not be completed for a short period of time.
- Limit-only. In the third phase, limit orders will start to work but it will not be possible to place market orders.
- Full trading. In the final phase, all types of orders will be available and functional, including limit, market and stop orders.
Finally, Coinbase, in its press release, anticipates the likely future listing of new cryptocurrencies:
“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”.