Coinbase Officially Launches Support For Ethereum Classic

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In an official blog post, Coinbase announced the launch of Ethereum Classic (ETC) on it’s platform Coinbase Pro (formerly GDAX). Users can now deposit ETC and trade the asset for USD, EUR and Bitcoin.

The company stated:

“We are beginning the launch of ETC on our exchange at Coinbase Pro. We plan to add support for ETC at Coinbase.com when sufficient liquidity is established. We expect this to occur approximately 1–2 weeks after trading begins on Coinbase Pro.”

On Aug 3rd Coinbase stated that they would be conducting final testing for ETC with the target to roll out ETC transfers by Tuesday. As planned, ETC is now available for trading on Coinbase Pro.

The rollout is set to take place in four stages, namely transfer-only, post-only, limit-only, and full-trading support. After the current stage, users can post limit orders, without matches, and the order book would be in post-only mode for a minimum of 10 minutes.

Earlier this week, Ethereum classic was also recently listed on Robinhood, one of the largest financial exchange alongside Coinbase.

The San Francisco-based company announced its intentions to explore various other cryptocurrency assets last month. The list included Cardano (ADA), Stellar (XLM), ZCash (ZEC), 0x (ZRX), and Basic Attention Token (BAT). Although they stated that this isn’t necessarily an indication that these assets would be added to the platform, they certainly are exploring and testing the architecture to make them available. Coinbase is also making an effort on the regulatory front.

“One of the most common requests we receive from customers is to be able to trade more assets on our platform. Ethereum Classic is just a first step in that direction. We announced last month that we are exploring a number of other assets to add to the platform, and customers should expect to see similar announcements when we are exploring new assets to add to the platform.” the company said.

Ethereum Classic is currently trading at $15.27 with a market capitalization of about $1.5 billion making it the 13th largest cryptocurrency by marketcap.

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