Coinbase are set to list Kyber Network (KNC) on Coinbase Pro
Coinbase have just tweeted that they are launching the native token of Kyber Network exchange (KNC) on their Coinbase Pro platform, trading on the KNC/USD, and KNC/BTC. The coin is said to be listed on Monday, February 24. Trading will begin on or after 9AM Pacific Standard Time the following day if liquidity conditions are met. Support for KNC will be immediately available in Coinbase’s supported jurisdictions, with the exception of New York State and the United Kingdom.
On Monday, February 24, our KNC/USD, and KNC/BTC order books will enter transfer-only mode, accepting inbound transfers of KNC in supported regions. Orders cannot be placed or filled. Order books will be in transfer-only mode for a minimum of 12 hours. https://t.co/J026rDnr4k
— Coinbase Pro (@CoinbasePro) February 19, 2020
As mentioned, Coinbase announced the launch of KNC at its exchange today, stating that the coin will be available for purchase, sale, conversion, sending, receiving, or simply storing.
The listing of KNC comes as a response to a growing demand by Coinbase’s own user base. Prior to being estimated as a worthy candidate, KNC had to go through Coinbase’s own process for listing assets, which was previously announced last year. Now, the asset is fully available via mobile app or web versions of the exchange.
The exchange reminded its users that the decision to support any asset could only come after a thorough technical and compliance review. In addition to that, the decision to support any cryptocurrency might also be subject to regulatory approval in certain jurisdictions. In other words, the exchange is willing to explore these coins, but it doesn’t guarantee the listing of any of them.
Furthermore, the exchange also noted that the omission of assets from the announcement doesn’t mean that any asset is disqualified from being reviewed and potentially added in the future. Coinbase is likely to approach new listings one step at a time, as always.
KNC is an Ethereum token used for paying fees on the Kyber Network, a protocol that aims to make swapping digital assets and cryptocurrencies simple and efficient. The Kyber protocol aggregates liquidity from a wide range of reserves, powering instant and secure token exchange in any decentralized application.
At press time, KNC maintains the 66th spot on the CoinMarketCap top 100 cryptos table. The price of OST sits at $0.545, with a market cap of $94,7 million.
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