OmiseGo (OMG) Surges After Coinbase Announces Support for Crypto Asset

Traders on Coinbase Pro will soon be able to buy and sell OmiseGo (OMG).

The leading US cryptocurrency exchange says it will begin allowing traders to transfer OMG to the exchange on Monday. Trading will begin shortly thereafter.

The announcement triggered a 25% surge in the price of OMG, which is currently trading at 95 cents, according to the price aggregator CoinMarketCap.

OMG was created by the payment services company Omise. Its ultimate goal is to help the unbanked manage their capital using a decentralized wallet and near-instant transfer speeds.

Coinbase has not yet revealed whether OMG will launch on its standard trading platform in addition to Coinbase Pro.

Coinbase and Coinbase Pro began ramping up the number of altcoins available for trading in early 2018.

At time of publishing, Coinbase supports 21 cryptocurrencies, while Coinbase Pro supports 27 cryptocurrencies.

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