Coinbase Announces Intended Assistance for Ethereum Classic
The largest cryptocurrency exchange in the U.S. has announced that it intends to add help for Ethereum Classic (Etc) in the coming months, bringing the cryptocurrency total on its platform to 5.
San Francisco-primarily based Coinbase created the announcement in a blog post earlier nowadays. The addition of Ethereum Classic to the cryptocurrency platform will join the likes of Bitcoin, Ethereum, Bitcoin Cash, and Litecoin.
In the blog, Coinbase said that they had been making the announcement both internally and to the public “consistent with our process for adding new assets.” The platform will now commence the engineering perform for the addition of Ethereum Classic. The post notes:
As part of this process, clients can count on to see public-facing APIs and other indicators that the asset is being added. When we attain the final testing phase of the technical integration, which we expect to happen more than the next couple of months, we will publicly announce a launch date for trading by way of our weblog and Twitter.
Coinbase added that it plans to roll out support for Ethereum Classic in all locations exactly where the asset is compliant with neighborhood laws. Ethereum Classic is at present ranked 18th, with a market cap value worth $1.6 billion. Because the announcement from the exchange, its worth has risen 22.47 % in 24 hours, according to CoinMarketCap.
In Could, the crypto exchange announced the launch of its suite of institutional items: Coinbase Custody, Coinbase Markets, Coinbase Pro, and Coinbase Prime. Its GDAX exchange is getting rebranded to Coinbase Pro.
In light of a quickly growing industry, with much more institutional investors getting into the space, new grade products and solutions are essential. This is one thing that the San Francisco-primarily based exchange is aiming to give with its suite.
With the intended addition of Ethereum Classic, the aforementioned institutional merchandise are organizing to add trading, withdrawal, and deposit assistance for the altcoin.
The news of Coinbase’s decision comes following a report in March that stated the exchange had made no decision to implement news coins to its platform.
At the time, it was speculated that Ripple would be the next altcoin of selection to join Coinbase after the inclusion of Bitcoin Cash. This was highlighted by the reality that several have been reading between the lines of a CNBC segment that saw Brad Garlinghouse, CEO of Ripple, and Asiff Hirji, president of Coinbase, becoming members of a panel discussing cryptocurrencies.
The exchange, even so, rapidly put the bed the thought by tweeting:
Our January 4th, 2018 statement continues to stand: we have created no choice to add further assets to either GDAX or Coinbase. Any statement to the contrary is untrue and not authorized by the company.
It seems, nevertheless, that that’s no longer the case.
Do you think Coinbase will add Ripple subsequent? Let us know in the comments under.
Pictures courtesy of Shutterstock.
Published at Tue, 12 Jun 2018 15:45:ten +0000