Coinbase’s professional trading platform has added support for browser startup Brave’s Basic Attention Token (BAT).
“We will accept deposits for at least 12 hours prior to enabling trading. Once sufficient liquidity is established, trading on the BAT/USDC order book will start,” it says in a blog post.
“Users may convert their USD to USDC with one click within the Pro interface as described here. BAT trading will be accessible for users in most jurisdictions, but will not initially be available for residents of the state of New York.”
There will be four stages to the launch. “If at any point the BAT/USDC order book does not meet our assessment for a healthy and orderly market, we may keep the book in one state for a longer period of time, or suspend trading as per our Trading Rules. Any other BAT order books we launch will also go through the same stages,” the blog post states.
- Transfer-only. Starting on Friday, 2nd November, customers will be able to transfer BAT into their Coinbase Pro account. They will not yet be able to place orders and no orders will be filled on these order books. Order books will be in transfer-only mode for at least 12 hours.
- Post-only. In the second stage, customers can post limit orders but there will be no matches or completed orders. Order books will be in post-only mode for a minimum of one minute. This market state has been shortened to increase market health during launch.
- Limit-only. In the third stage, limit orders will start matching but customers will not yet be able to submit market orders. Order books will be in limit-only mode for a minimum of ten minutes.
- Full trading. In the final stage, full trading services will be available, including limit, market, and stop orders.
“One of the most common requests we receive from customers is to be able to trade more assets on our platform. With the recent announcement of our new listing process, our customers can expect us to list most assets over time that meet our standards,” the blog post concludes.
Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.