Coinbase Pro Adds 0x to its Platform

 Coinbase, the largest American cryptocurrency exchange announced the listing of the first ERC-20 token on their Coinbase Pro platform. The ERC-20 is 0x which is Zrx.

ZRX will be available to be traded in ZRX/USD, ZRX/EUR and ZRX/BTC. The ZRX/GBP will not be permitted as of now.

ZRX will be allowed to be traded in most places but not in New York initially.

There are four stages which have been outlined to ensure ZRX is listed-

  • Transfer only stage – Users can transfer ZRX tokens into the Coinbase Pro wallets.
  • Post Only Stage – Users can place orders.
  • Limit Only Stage – Limit Orders will be Matched.
  • Full Trading – All the services of trading in ZRX will be possible.

As clarified by Coinbase, they are meeting the requirements of their users by adding new tokens.

“One of the most common requests we receive from customers is to be able to trade more assets on our platform. With the recent announcement of our new listing process, our customers can expect us to list most assets over time that meet our standards.”

 

Zerocrypted Opinion

ZRX was announced to be in the future plans of being added in Coinbase a few months ago in June. It was noted alongside a few other tokens which included Cardano (ADA), Basic Attention Token (BAT), Stellar Lumens (XLM) and Zcash (ZEC). So expect one of the tokens mentioned in June to be added next.

0x is an open protocol that is designed to offer a decentralised exchange as part of the Ethereum Blockchain. It involves Ethereum smart contracts to enable the possibility of a decentralised exchange. According to CoinMarketCap at the time of writing, 0x is ranked 25th place, a price of $0.780887 and a market capitalisation of $422,483,92. It is observed that the price of 0x rose right after the announcement on Coinbase.

In the last few weeks, cryptocurrency exchanges are doing all they can to stay competitive. For example a few days ago the leading cryptocurrency exchange, Binance had announced it would make all the listing fees of new tokens transparent and given to charity.

 

Image Source – Flickr

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