In a bid to add more trading options, Coinbase has added Stellar Lumens on its professional trading platform Coinbase Pro.
In the March 13 announcement, the US-based exchange and wallet platform detailed that it had started accepting XLM token deposits at 1 pm Pacific Time. After 12 hours, it hopes to have gathered sufficient liquidity to start a full-fledged trading service against USD, EUR, and BTC.
The listing will follow four stages – transfer-only, post-only, limit-only, and full trading.
Developed by Ripple co-founder Jed McCaleb, Stellar Lumens is focusing to create a low-cost payment network.
“Since its launch in 2014, its vision has been to unite the world’s financial infrastructure so that money can flow quickly and cheaply between banks, businesses, and people,” Coinbase noted. “The Internet-connected the world’s computers so that information could be shared globally. Stellar aims to do the same for money.”
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This listing came weeks after the San Francisco-headquartered exchange listed Ripple on the same platform. The exchange also extended XRP trading support to its retail platform earlier this month.
However, the exchange also faced a bit of criticism as a blockchain analytics firm accused the exchange of violating its own listing policy by introducing XRP trading.
Streamlining Coinbase.com and Wallet App
In addition, to increase functionality, the crypto exchange has extended support for its users to directly transfer cryptocurrency holdings on Coinbase.com to accounts in the firm’s Wallet app.
The exchange will roll out the feature in its latest update within the “next few days.”
“For Coinbase users that frequently transfer money between their Coinbase.com account and a software or hardware wallet, we believe this new feature will give them the ‘easiest to use’ experience that is a hallmark of all Coinbase products,” Coinbase stated.
Last month, Coinbase also added Bitcoin Cash support to its Wallet app.