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Users that take advantage of Coinbase Pro will soon be able to use it to trade Tezos (XTZ) alongside other popular cryptocurrencies like Bitcoin, Ethereum, and Litecoin.
Tezos, a proof-of-stake and democratic blockchain platform, has millions of dollars behind it and went live in September of last year. Users who buy cryptocurrency and invest it on the platform can participate in voting and other changes within the blockchain network.
Interestingly, the asset was brought to Coinbase Custody earlier this year, and users weren’t a fan of voting rights heading over to “custodial token holders,” reports CoinDesk.
However, before Tezos’ trading goes live, the platform has to build up some of the assets in a trading pair with Bitcoin. Everything should go live on August 5th, but the cryptocurrency exchange will allow transfers to the Coinbase Pro wallet around 12 hours ahead of its full launch.
Some more details available via a company blog post:
“Initially there will be no application fee. Depending on the volume of submissions, we reserve the right to impose an application fee in the future to defray the legal and operational costs associated with evaluating and listing new assets. At our discretion, we may choose to list some assets on the basis of our own evaluation, even in the absence of an application. In other cases, we will attempt to give quick, specific reasons for the approval or rejection of particular assets.”
On top of bringing Tezos and other assets onto the Coinbase Pro platform, the company will “augment our tools and educational materials to help customers learn about assets in order to make their own decisions,” reads the rest of the post.
“We think of Coinbase as the global bridge from fiat to crypto, from the fragmented financial system of today to the open financial system of the future,” it ends. “We believe this new listing process allows us to quickly add assets while remaining compliant with local law and continuing to offer our customers the safe, high-quality experience they have come to expect from Coinbase.”