Coinbase has announced that it is launching a number of new GBP trading pairs, which will become available on its crypto exchange service, Coinbase Pro, on September 7.
David Farmer, general manager of Coinbase Pro, revealed yesterday in a blog post that the new trading pairs included ETH/GBP, ETC/GBP, LTC/GBP and BCH/GBP. The platform already supports BTC/GBP.
The platform has already added support for UK domestic bank transfers in GBP via the UK’s Faster Payments Scheme.
“Coinbase Pro is the only major digital currency trading platform that supports UK Faster Payments and it’s our goal to be the trading platform of choice for UK crypto traders,” Farmer wrote in the blog post. “In advance of the launch of the new trading pairs, all UK customers now have access to send GBP to their Coinbase accounts via domestic bank transfer.”
The launch of the new pairs will be structured in three stages: post-only, where users will be able to post limit orders but there will be no matches (completed orders); limit-only, where limit orders will start matching but customers are unable to submit market orders, and full trading. Each of the first two stages is scheduled last for a minimum of 10 minutes.
“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 stage (as identified below) for a longer period of time, or suspend trading as per our Trading Rules,” Farmer wrote.
Coinbase is the largest US crypto exchange, boasting a user base of more than 13 million. The company recently added Ethereum Classic (ETC) to its portfolio of tradable digital assets.