Crypto marketplace Coinbase announced on Friday its Coinbase Pro is set to open for inbound transfers of ETC this upcoming Tuesday (August 7th). The platform reported that it intends to allow 24–48 hours of inbound transfers through Coinbase Pro and Coinbase Prime before enabling trading. It was revealed in a blog post:
“The Pro team is planning to add trading support for ETC. Note that customers who previously had an Ethereum Classic balance on the platform as a result of the 2016 Ethereum hard fork and did not elect to withdraw their funds prior to January 2017 will receive a corresponding Ethereum Classic credit on their Pro account.”
The launch of Coinbase Pro comes just a couple of months after Coinbase announced its new product offerings for institutions, which were designed to meet the demand to trade and invest in cryptocurrency. The platform debuted Coinbase Custody, a cryptocurrency custodian in partnership with an SEC-regulated broker-dealer, to a group of initial clients that include the leading institutions in the crypto industry, as well as Coinbase Prime, a suite of tools and services specifically designed for institutions, and enhancements to Coinbase Markets. At the time of the Coinbase Prime and Coinbase Markets launch, Adam White, Vice President and General Manager of Coinbase Institutional, stated:
“There is clear demand from institutional clients and financial services professionals for more specific solutions with regard to cryptocurrencies that address their sophisticated needs. Through new products like Coinbase Prime and Coinbase Custody, we’re building the necessary capability for institutions that allows cryptocurrencies to be traded and stored in a compliant, trusted and efficient manner.”