Coinbase has added Polkadot to its Coinbase Pro platform, with DOT, the native cryptocurrency of the Polkadot blockchain available for transfer to these accounts starting Monday.
Trading is set to begin on or after 9am PT Wednesday, provided, liquidity conditions are met.
The exchange shared the good news in a blog post, revealing that support for DOT will generally be available in the company’s supported jurisdictions with the exception of Singapore. The digital coin can be purchased from other platforms in that country, but not Coinbase for some reason.
As Coinbase notes:
“Polkadot (DOT) is a protocol that enables cross-blockchain transfers of any type of data or asset. By uniting multiple blockchains, Polkadot aims to achieve high degrees of security and scalability. DOT serves as the protocol’s governance token and can be used for staking to secure the network or to connect (“bond”) new chains.”
Trading pairs to be supported include DOT-USD, DOT-BTC, DOT-EUR, DOT-GBP, and DOT-USDT. While order books will launch in three phases, namely post-only, limit-only, and full trading.
DOT’s price has risen 19% over the last 24 hours on the back of this news, and it is currently trading at around $24.14 a pop.
Coinbase typically adds these digital coins to its retail platform a few weeks after first listing them on the professional version. Though this did not turn out to be the case when the exchange added Dogecoin, as the meme crypto is yet to be available for retail investors.
With the addition of Polkadot, Coinbase Pro now supports 50 cryptocurrencies, including pretty much all the major ones on the market.
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