Starting on April 22nd, transferring USDT into Coinbase Pro accounts ahead of trading will be possible. According to Coinbase, support for USDT will generally remain available across the entirety of Coinbase’s supported jurisdictions. New York State will be an exception.
Trading commences on or after 6pm Pacific Time (PT) on April 26th. This is provided that liquidity conditions are met. Interested parties should note that Coinbase only supports ERC-20 USDT operating on the Ethereum blockchain.
Customers commonly request to trade more assets on the Coinbase platform than possible. Coinbase is now able to support additional trading, provided that assets meet the organization’s standards. Trading support now extends to Ampleforth Governance Token (FORTH), 1inch (1INCH), Enjin Coin (ENJ), NKN (NKN), Origin Token (OGN), Ankr (ANKR), Curve DAO Token (CRV), Storj (STORJ), Cardano (ADA) and more. Support for additional order books is available. Coinbase is also committed to considering alternative currencies and digital assets.
Inbound transfers of USDT to Coinbase Pro are expected to be available immediately. Trading is set to start on or after 6pm Pacific Time (PT) on April 26th, again provided that liquidity conditions permit. At this time, Coinbase supports ERC-20 USDT only.
Order books for select coin types will launch in three phases, once sufficient supply of USDT is available on the platform. The three phases are post-only, limit-only and full trading.
“If at any point one of the new order books does not meet our assessment for a healthy and orderly market, we may keep the book in one state for a longer period of time or suspend trading as per our Trading Rules,” says Coinbase.
As order books move through appropriate phases, Coinbase plans to publish tweets via the Coinbase Pro Twitter account.
About Tether (USDT): Tether is a stable coin, which is available on a variety of blockchains. It aims to maintain the same value as the US dollar. For coins like USDT, the organization that operates the protocol remains liable for holding reserves. Reserves are intended to fully back each token. “As of 2021, USDT is the most widely-used stablecoin in the world, with a market cap over $30 billion”, says Coinbase.
As of the present moment, Coinbase supports ERC-20 USDT. It runs on the Ethereum blockchain.
On Coinbase.com, USDT remains unavailable at this time. Similarly, it is not yet available via consumer mobile apps. When support is added, Coinbase intends to make another announcement. Coinbase Pro accounts are easy to sign up for. More information on cryptocurrency trends for 2021 can be found here.