Yesterday, after 12 PM PT, the exchange has started to accept the inbound transfers for EOS (EOS), Augur (REP) and Maker (MKR.) The crypto exchange made this announcement on its official blog, yesterday.
As per the announcement, the users will be able to trade EOS and REP in all the jurisdictions that are supported by the crypto exchange Pro, rendering the New York State as an exception. Whereas, MKR can be traded across all the outside of US jurisdictions that are supported by Coinbase Pro. The blog also revealed that there are chances of additions of more regions for each asset in the coming times.
The trading pair of EOS and REP are Dollar, Euro, and Bitcoin, whereas the trading pairs of MKR are Bitcoin and USDC. USDC is a stable coin which has been issued by a joint venture of a Coinbase and Circle as per the blog post.
As of now the users still have to show a little more patience before they can fully dive into crypto trading. But before that, they have to go through four distinct stages. These stages are Transfer-only, Post-only, Limit-only, and Full trading.
- Transfer-only- In the first stage, the users of the platform will be able to transfer EOS, REP, and MKR into their Coinbase Pro accounts. There will be no orders filled in the customer’s order book and will be in ‘transfer-only’ mode for at least 12 hours.
- Post-only– The second stage is only about posting of the limit orders. There will be no completed orders at this stage. As per the blog- “Order books will be in the post-only mode for a minimum of one minute.”
- Limit-only– The third stage will allow the users to match the limit orders, but still the user can’t submit order books at this stage. This limit-only stage will stay so for at least 10 minutes.
- Full trading– In the final stage, the user can freely trade on the platform and there will be no restrictions whatsoever.
REP is an ERC 20 token. It rewards online reporters who predict markets. This serves as a base for others to bet on the prediction made. On the other hand, MKR- the Maker token can be used to cast votes on matters that are related to MakerDAO’s Stablecoin- DAI.
According to Coinbase, the majority of customers request the platform to add more and more assets on the exchange so that they can trade a variety of crypto coins. On this, the crypto exchange, in its blog said,
“[…] Per the terms of our listing process, we anticipate supporting more assets that meet our standards over time.”
The probability of addition of EOS (EOS), Augur (REP) and Maker (MKR) was first hinted by the exchange back in December last year. Also, when we look at the altcoins list of the crypto exchange, we can find a variety there too. The crypto exchange Coinbase added Ripple-associated XRP in February and Stellar Lumens (XLM) in March, this year. Last month, the exchange also made an announcement concerning a new staking service for the large holders of Tezos’ XTZ tokens, according to the reports.
Further, the exchange is licensed as qualified custodian as per the regulations of NYDFS- New York Department of Financial Services. According to the license, it allows the exchange to store big amounts of cryptos in a “highly secure way”, and to list new assets, and explore staking too. Last year in June, the exchange became fully SEC-regulated broker-dealer.