The leading US cryptocurrency exchange and provider of the eponymous wallet Coinbase announced the beginning of the listing the privacy-oriented Zcash.
ZEC is launching on Coinbase Pro. Starting at 10am PT, customers can transfer ZEC into their Coinbase Pro account. Traders can deposit ZEC, but cannot place or fill orders. Order books will remain in transfer-only mode for at least 12 hours. https://t.co/5nADybxqKk
— Coinbase Pro (@CoinbasePro) November 29, 2018
The first step is a Zcash support on the Coinbase Pro exchange, and users already have the opportunity to make deposits. ZEC / USDC pair trading will start after the cryptocurrency will be provided with sufficient liquidity, the company said.
According to the already established tradition, the listing of a new asset on Coinbase Pro is carried out in four stages: replenishment of accounts, execution of limit orders, comparison of limit orders and the opening of full functionality.
As Coinbase notes, deposits will be accepted for at least 12 hours before the next listing stage is launched. Initially, ZEC trades will be available to Coinbase Pro users in the United States, European Union countries, Canada, Singapore and Australia. Other jurisdictions may be connected to trading at a later stage.
Note that at the initial stage, Coinbase plans to provide support for deposits from both transparent and secure (anonymous) addresses, but withdrawals will be available only to transparent addresses. In the future, the company will consider the possibility of withdrawing funds to anonymous addresses in those jurisdictions where legislation allows it.
Against the background of today’s news, Zcash, which ranks 19th in terms of capitalization, has rapidly gone up, having risen by almost 12% in a few minutes.