Digital asset firm Coinbase (NASDAQ:COIN) announced on Monday (May 31, 2021) that it has unlocked stable (stablecoin) pair trading.
Crypto exchange Coinbase says its mission is to “increase economic freedom in the world.” According to the company that recently went public, an open financial system should offer improved access to financial services “for everyone, and enable greater economic freedom for individuals and businesses.”
Coinbase’s management noted in a blog post that a “core part of making this mission successful is continuing to develop a healthy and liquid exchange for crypto-assets.”
The company added:
“Today we are announcing that we have updated our pricing for 9 “Stable Pairs” and will continue to add additional pairs with competitive pricing. Stable Pairs, or a price quotation between two cryptocurrencies where the price is designed to be pegged to some external reference such as the USD, play an important part of the crypto ecosystem by allowing users to benefit from multiple funding options and instant settlement.”
Coinbase also mentioned that the Stable (stablecoin) Pair market has “grown 10x in trading volume over the last 6 months.”
The crypto firm added that leveraging their fiat channels and their USDC issuer status, they feel confident that offering Stable (stablecoin) Pairs to the market will be “an attractive offering to our global user base.”
Coinbase confirmed that effective June 1, 2021, Coinbase Pro in Stable Pairs are “simply 0 bps for maker volumes, 1 bps for taker volumes for all volume tiers.”
The exchange also shared the following details:
- Stable Pairs subject to change
- Stable Pair Fees
- Pricing Tier = All Volume Tiers
- Maker Fee = .00%
- Taker Fee = .01%
Coinbase clients will be able “to access these Stable Pairs through Coinbase Exchange which is the deep pool of liquidity underpinning many of our trusted retail, institutional, and business products.”
Coinbase also noted that its exchange is “one of the most liquid regulated crypto spot exchanges in the world and has a dynamic fee structure for high-volume trading.” To learn more about Coinbase Exchange, check here.
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