Coinbase Pro to Support Kyber Network Token From February 24
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Coinbase Pro to Support Kyber Network Token From February 24

February 20, 2020      Ibiam Wayas

Coinbase Pro, a professional trading platform run by the San Francisco based crypto exchange, Coinbase, will allow users to trade KNC token, the native cryptocurrency of Kyber Network, an ethereum-based protocol that specializes in aggregating liquidity.

Starting from Monday, February 24, the customers will be able to deposit KNC into their account, ahead of the trading date, which is set to commence on the following day, provided that the liquidity conditions are met. 

The deposit of KNC will open during business hours, Pacific time, according to the blog post. Support for Kyber’s cryptocurrency will be available for every other jurisdiction served by Coinbase, excluding the United Kingdom and New Your State.

Coinbase said trading options on KNC token for Bitcoin (BTC) and USD would begin in phases as soon as a sufficient supply of KNC is attained on the trading platform. The phases reportedly begin with post-only mode, then proceed to full trading.

Meanwhile, it’s worth noting that the Kyber’s token, KNC is not yet available on the exchange’s consumer mobile apps or Coinbase.com. A separate announcement will be made once the support is added on the platform.

About The Kyber Network

The Kyber Network is a protocol based on the Ethereum blockchain that aggregates liquidity from a large variety of reserves. It also powers secure and instant token exchange in any decentralized application.

The Network has gained much Integration since launch. Its native cryptocurrency, KNC, reportedly powers the Network; it is being utilized for paying fees on the Network. According to a digital currency data platform, CoinGecko, a token of KNC, is priced around $0.55 at the moment.

Coinbase Becomes First Crypto Principal Member of Visa 

Yesterday, Coinbase announced it had become the first pure-play digital currency firm to be officially approved as a principal member of Visa, a global payment technology company. Upon the membership, Coinbase hopes to improve customer experience and enable secure crypto to spend in daily activities.

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Ibiam Wayas
Ibiam Wayas

Ibiam Wayas is an optimistic crypto news reporter who also enjoys tech writing. He is an introvert who spends much of his time on the internet studying facts that will help him excel in the digital/cryptocurrency space.