As per an official announcement, Coinbase Pro, the advanced offering of the popular crypto exchange and wallet service Coinbase, has now listed Stellar Lumens (XLM). Coinbase Pro will first accept deposits of XLM for approximately 12 hours before it enables full trading.
Further, the exchange notes that once a good supply of XLM is established, trading pairs in U.S. dollars, Euro, and Bitcoin(BTC) will be made available.
XLM trading will initially be available in Coinbase’s supported jurisdictions, except New York. The exchange may later add jurisdictions.XLM trading will undergo three stages before full trading is enabled. These include limit, market and stop orders.
In the first two stages, users can transfer XLM to Coinbase Pro and then post limit orders. In the third stage, customers will be able to match limit orders.
The blog post also gave a short account of Stellar Lumens Vision,
“Stellar’s cryptocurrency, the Stellar Lumen (XLM), powers the Stellar payment network. Stellar aims to connect banks, payment systems, and individuals quickly and reliably. 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. The Internet-connected the world’s computers so that information could be shared globally. Stellar aims to do the same for money.”
Last month, CoinMarketFeed reported, Coinbase Pro, the advanced offering of crypto trading platform and wallet service Coinbase are all set to add support for Ripple’s XRP token. The development was announced via an official blog post on February 25.
Full trading for the digital asset will be available to customers in the U.S, Canada, United Kingdom, Singapore, Australia. The leading exchange may expand its services to other countries later.
Coinbase Pro is actively expanding its the list of tokens being supported on the platform over the past months. The August of 2018 saw Basic Attention Token (BAT), privacy-oriented altcoin Zcash (ZEC) and Ethereum Classic (ETC) being listed. Later, the support for tokens was expanded to Coinbase’s mobile app and retail platform.
Stellar Lumens (XLM) price has seen a steep rise in the second week of March 2019. The coin saw gains of 30% in 48 hours. While the exact reason for the sudden spike is unknown, enthusiasts attribute to coin’s new logo.
Besides, it is predicted that now that it will be listed on Coinbase Pro, there will be a price rise. At press time, XLM has gained around 5.03% percent on the day and is trading around $0.107, as per data from CoinMarketFeed.