Coinbase is revealing plans to add support for meme crypto asset Dogecoin (DOGE) on the exchange’s professional-level trading platform Coinbase Pro.
In a new blog post, the US-based crypto exchange tells its users that they can now deposit DOGE into their Coinbase Pro accounts.
Support for the sixth-largest cryptocurrency will be available in all of the crypto exchange’s supported jurisdictions. Trading will begin on June 3rd, on or after 9 AM Pacific time once liquidity conditions are met.
Coinbase adds that users can trade DOGE against Bitcoin and Tether and three fiat currencies – the US dollar, the euro and the sterling pound (GBP).
“Once sufficient supply of DOGE is established on the platform, trading on our DOGE-USD, DOGE-BTC, DOGE-EUR, DOGE-GBP, and DOGE-USDT order books will launch in three phases, post-only, limit-only and full trading.”
Dogecoin has been one of the most controversial crypto assets amid its meteoric ascent into the top ten. The altcoin, which started as a joke in 2013, has received support from Tesla CEO Elon Musk who unveiled a mission to the moon that will be paid for using DOGE. Billionaire and Shark Tank star Mark Cuban is also supporting DOGE by accepting the meme crypto asset as a payment option for Dallas Mavericks game tickets and merchandise.
The Dogecoin listing comes weeks after Coinbase CEO Brian Armstrong announced the crypto exchange’s plans to accelerate the process of adding support of new coins in the company’s first quarter earnings call.
At time of writing, DOGE is trading at $0.36, up nearly 10% in the last 24 hours, according to CoinMarketCap.
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/Tithi Luadthong
