Coinbase adds support for ERC-20-based 0x token
Coinbase has added support for the 0x token – created on the Ethereum network and the first ERC-20 coin the San Francisco-based exchange has ever listed.
ERC-20 tokens are developed and used only on the Ethereum platform: ERC is for Ethereum Request for Comment, and 20 is the designated number for this request.
Coinbase Pro listing
The 0x token (ZRX) has been launched on Coinbase’s institutional platform Coinbase Pro, although the exchange clarified that trading of the new coin would only begin once sufficient liquidity had been established.
It said that ZRX would be available in most regulatory jurisdictions and that the launch would be divided into four independent stages: for the trading pairs 0x/dollar (ZRX/USD), 0x/euro (ZRX/EUR) and 0x/bitcoin (ZRX/BTC) – trading between 0x and sterling (ZRX/GBP) will be added at a later stage.
Coinbase said in a blog announcement that is would send tweets from its Coinbase Pro account as each of the above order books moves through the following phases:
- Transfer-only – starting Thursday 11 October customers can transfer ZRX into their Coinbase Pro accounts
- Post-only – customers can post limit orders, although these will not yet be matched
- Limit-only – at this point limit orders will start matching, but market orders won’t be. Order books will be in limit-only mode for a minimum of 10 minutes
- Full trading – the final stage where limit-, market-, and stop-orders will be available
Coinbase announced in July it was adding ZRX to its trading list along with four other assets – Cardano, BAT, Stellar lumens and Zcash.