Coinbase has officially added Tezos (XTZ) token to the supported assets on the exchange’s professional trading platform, Coinbase Pro, with the company’s Android and iOS apps to follow later.
In a blog post, officials revealed the launch would take place in four vital stages including transfer-only, post-only, limit-only, and the final stage, full-trading mode. Coinbase will post tweets announcing the stages separately.
Tezos has been one of the coins to make the cut for custody services back in February, and today it acquires its first listing on the trading platform of Coinbase. Coinbase Custody is part of Coinbase, which claims over 25 million global customers and also ranked as the largest platform for cryptocurrency trading and other related services in the US. The service has also scaled to serve more than 60 clients and $600 million in assets under custody.
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Tezos founders are facing lawsuits in the US
Coinbase will open trading of XTZ around 12 hours after the announcement was made. The exchange points out that the new coin will be accessible for users in most jurisdictions, but will not initially be available for residents of the state of New York.
As usual, when the listing of a new coin on a major exchange is announced, there was a significant increase in the trading volume of XTZ and a big price spike.
At the time of writing, XTZ was enjoying a 24-hour surge of 25 percent, a completely different change in scenario from yesterday when the cryptocurrency was almost unchanged. The coin was trading at $1.26 with a total market cap of $830 million and a 24-hour market volume of $12.4 million.
The Tezos project and its founders are facing several class-action lawsuits in the United States. Plaintiffs accuse them of fraudulently marketing the sale of their tokens as charitable, non-refundable contributions in order to avoid governmental and private scrutiny.