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Coinbase Adds Polkadot Trading to Pro Platform

Coinbase’s professional trading platform has added DOT, the native currency of the Polkadot blockchain, the exchange said in a blog post Monday.

As of Monday, the token is available to transfer into Coinbase Pro accounts. Trading will begin on or after 9 a.m. PT Wednesday.

The exchange typically adds cryptocurrencies to its retail platform a few weeks after first listing them on the professional version, although that turned out not to be the case when it added dogecoin. Coinbase Pro currently supports 50 cryptocurrencies.Coinbase Retail Customers Can Now Buy Dogecoin

Coinbase will allow users to deposit DOT beginning today, Monday, June 14. It will then allow trading at 9AM Pacific Time on Wednesday, June 16, if the exchange has sufficient liquidity.

Users will be able to trade DOT for various fiat currencies (USD, EUR, and GBP) and select cryptocurrencies (BTC and USDT).

DOT will then be listed on Coinbase’s retail trading application at a later date that is still unspecified.

Coinbase did not explain why it chose to list DOT. However, with a market cap of $23.1 million, Polkadot is the ninth largest cryptocurrency on the market today, making it an important asset for Coinbase to include in its exchange listings.

Coinbase described Polkadot as a high-performance platform for cross-chain transactions. It added that the DOT token acts as Polkadot’s governance token—it is used for staking and security, and it is used to attach new chains to the network.

Source: Coindesk, Cryptobriefing