Home News Coinbase will soon add Ethereum Classic support to its services

Coinbase will soon add Ethereum Classic support to its services

Coinbase cryptocurrency exchange announced that it will soon add Ethereum Classic (ETC) support across various services it provides. The related protocol currently undergoes the final stages of testing, as the platform’s official blog reads.

“We expect final testing to be completed by Tuesday, August 7, at which point we will announce that we’re ready to accept inbound transfers of ETC. We intend to allow 24–48 hours of inbound transfers through Coinbase Pro and Coinbase Prime before enabling trading,” the announcement said.

Some elements of ETC support will be available at such Coinbase services as Coinbase Custody, Coinbase Markets, Coinbase Prime, Coinbase Asset Management and Coinbase Consumer. In the situation of Coinbase Custody, support would be added for inbound transfers and withdrawals of Ethereum Classic. Coinbase Pro clients would be given access to ETC trading services, along with customers of Coinbase Prime and Coinbase Markets. In the case of Coinbase Markets however, trading would be unlocked after a 24-48 hour window period within which Coinbase Pro and Prime would conduct transfers. In line with platform trading protocol, Ethereum Classic books would open in post-only for at least 10 minutes, after which trading on Pro and Prime would commence as soon as adequate liquidity is recognized. Coinbase Consumer would be late to the party as platform policy commands that assets can only be listed on Coinbase Consumer after being listed on Coinbase Pro and Prime.

Back in June, when the news about two major cryptocurrency exchanges, namely, Coinbase and Binance planning to introduce ETC support at their services had first popped up in the media, ETC market price experienced a 25% just in a matter of hours.