Decentralized Protocol Kyber Network (KNC) To Launch On Coinbase Pro
In a blog post, Coinbase announced its support for Kyber Network’s KNC token. According to the announcement, the KNC token will be available for trading on Coinbase Pro, which is the trading platform set for experienced clients within the giant exchange.
According to the press statement released by the giant crypto exchange platform, clients will be allowed to deposit KNC tokens on Feb. 24. The statement also stated that trading for the token will commence on Feb. 25 but will depend on whether the set liquidity parameters will be attained.
Coinbase also stated that support and trading for KNC tokens will only be available in all the jurisdiction which Coinbase Pro services are available in the US apart from New York. The exchange also announced that KNC token trading will not be available in the United Kingdom. The KNC token launch will follow the previous launches whereby transfers will only open during the business hours, specifically pacific time.
After enough supply of KNC tokens is reached within the platform, Coinbase Pro explained that it will introduce KNC/USD as well as KNC/BTC trading order books in phases.
However, KNC token is not yet listed on Coinbase’s website as well as mobile apps owned by the exchange. The exchange states that an announcement will be made once the support is added.
KNC platform is developed on Ethereum blockchain where the token is utilized for fees payment within the Kyber Network. The Kyber Network aims at making it easy to swap virtual assets as well as cryptocurrencies. Currently, KNC token is valued at $0.55 as per CoinGecko data.
Coinbase states that one of the most frequent requests they receive from the clients is a chance to trade as many assets within the platform as possible. The support for KNC token is a sign that the exchange is determined to add more virtual assets to the platform. The platform states that plans are underway to add more assets if they meet the listing rules and guidelines.