San Francisco based cryptocurrency exchange— Coinbase has announced support for Tezos (XTZ). According to the announcements, users can now trade Tezos (XTZ) on the exchange’s website and its app, both the Android and iOS versions.
First, it Was Coinbase Pro Now Coinbase.com
The major exchange made this known via a recent blog post which was published today, August 8.
A few days ago the exchange announced the addition of the XTZ to the list of tradable crypto on Coinbase Pro. That announcement led to a major jump in the price of the crypto.
According to CoinMarketCap, Tezos’s price has increased by 11.9% within 24 hours of the announcement being made. This sharp jump in price can be attributed to the Coinbase announcement.
Unlike Coinbase.com Coinbase Pro is advertised as a platform designed for professional traders. This, however, doesn’t mean Coinbase.com itself is not comprehensive enough.
Going by the blog post published by Coinbase today, customers of the exchange will be able to buy, sell, convert, send, receive, or store XTZ freely, with the exception of customers based in New York State.
Today also, Coinbase Custory made it known that it has added two new board members with experience in New York’s banking and financial ecosystem.
Eight Token to be Added Soon
On August 5, Coinbase revealed that is likely to start to support eight other digital assets, including Algorand (ALGO), Cosmos (ATOM), Dash (DASH), Decred (DCR), Matic (MATIC), Harmony (ONE), Ontology (ONT) and Waves (WAVES). Importantly, no assurance of future support was given by the exchange for any of the named assets in any particular jurisdiction.
In March Coinbase added support for USDC stablecoin trading for 85 countries. In the announcement, Coinbase wrote:
“Stablecoins are beneficial to anyone who trades crypto, but also have the potential to materially improve the lives of people in countries where inflation is eroding wealth. For new customers in countries like Argentina and Uzbekistan, where consumer prices are expected to inflate by 10–20% in 2020, stablecoins like USDC could provide an opportunity to protect against inflation.”