Coinbase Lists its First ERC20 Token on I’ts Professional Trading Platform
Coinbase has started the listing of the ERC-20 token Ox (Zrx) according to an announcement from the platform. This will be the first time Coinbase support an ERC-20 token.
Per the blog post, Coinbase stated that users can deposit funds for the 0x token on its professional trading platform, Coinbase Pro. Trading will only become available once enough liquidity has been established.
ZRX is launching on Coinbase Pro! The ZRX/USD, ZRX/BTC, and ZRX/EUR order books have entered transfer-only mode. Traders can deposit ZRX, but cannot yet place or fill orders. Order books will remain in transfer-only mode for at least 12 hours. https://t.co/SomOUqoXhv
— Coinbase Pro (@CoinbasePro) 11 October 2018
Once enough liquidity is established, trading will begin with the currency pairs ZRX/USD, ZRX/EUR and ZRX/BTC. Trading will be possible for most jurisdictions but not for the state of New York initially.
This is the first time that the company is listing an ERC20 token – a coin developed and used exclusively on Ethereum’s blockchain – and this could mark a significant change for token listing on cryptocurrency exchanges.
At the moment, ZRX is only available on the Coinbase Pro platform and not on Coinbase.com, the iOS or Android apps as of yet. A separate announcement will be made when that occurs.
ERC-20 tokens are tokens developed and used solely on the Ethereum (ETH) platform, where ERC stands for Ethereum Request for Comment, and 20 is the number assigned to this request. ERC-20 makes the creation of new tokens extremely easy, which is why ETH became popular with crowdfunding companies working on Initial Coin Offerings (ICOs).
Get Bitzamp Latest Update By Downloading our Mobile App: Bitzamp – Cryptocurrency News – Apps on Google Play