The team at digital asset firm Coinbase (NASDAQ:COIN) notes that beginning today Tuesday (June 15, 2021), users may transfer Chiliz (CHZ), Keep Network (KEEP) and Shiba Inu (SHIB) tokens to their Coinbase Pro accounts ahead of scheduled trading.
The Coinbase team notes that support for CHZ, KEEP and SHIB crypto tokens will “generally” be available in Coinbase’s “supported jurisdictions.” However, traders or investors in Singapore may not take part in this offer.
CHZ and SHIB tokens will not be available for trading to clients residing in New York, Coinbase confirmed while adding that for all other supported areas, trading should commence “on or after 9AM Pacific Time (PT) Thursday June 17, if liquidity conditions are met.”
The Coinbase team also mentioned that one of the most common requests they get from clients is for them to be able to trade more assets on their platform. Per the terms of our listing process, the company says it anticipates supporting additional assets that meet their standards over time.
Recently, Coinbase added trading support for Polkadot (DOT), Gitcoin (GTC), Enzyme Token (MLN), Amp (AMP), Dogecoin (DOGE), Internet Computer (ICP), Cartesi (CTSI), iExec (RLC), Mirror Protocol (MIR), Tellor (TRB), Tether (USDT), Ampleforth Governance Token (FORTH), 1inch (1INCH), among many others.
Coinbase confirmed that effective immediately, they will start accepting “inbound transfers” of CHZ, KEEP and SHIB tokens to Coinbase Pro. Trading will commence “on or after 9am Pacific Time (PT) Thursday, June 17, if liquidity conditions are met.”
After adequate supply of CHZ, KEEP and SHIB has been established on the platform, trading on our CHZ-USD, CHZ-EUR, CHZ-GBP, CHZ-USDT, KEEP-USD, SHIB-USD and SHIB-USDT order books “will launch in three phases, post-only, limit-only and full trading.”
Coinbase clarified that if “at any point one of the new order books does not meet our assessment for a healthy and orderly market, we may keep the book in one state for a longer period of time or suspend trading as per our Trading Rules.”
As noted by Coinbase, Chiliz (CHZ) is an Ethereum token that’s used to power transactions on Socios.com, a platform that “lets users trade tokens to show their support for professional sports teams.”
The tokens on Socios.com — called Fan Tokens — “make users eligible for rewards and promotions and can also be used to influence team decisions by popular voting on the Chiliz blockchain.”
Keep Network (KEEP): KEEP is an Ethereum token that “powers the Keep Network, a platform that aims to bridge public blockchains and private data.” One of Keep Network’s first products is an Ethereum token that “represents 1 Bitcoin, called tBTC.” Keep Network “enables users to deposit Bitcoin and redeem tokenized tBTC, which can then be used in the Ethereum ecosystem without centralized intermediaries.”
Shiba Inu (SHIB): Shiba Inu (SHIB) is a token that “aspires to be an Ethereum-based alternative to Dogecoin (DOGE), the popular memecoin.” Unlike Bitcoin, which is designed to be scarce, SHIB is “intentionally abundant — with a circulating supply of one quadrillion.” The Shiba Inu Token ecosystem “supports projects such as an NFT art incubator and the development of a decentralized exchange called Shibaswap.”
CHZ, KEEP, and SHIB are “not yet available on Coinbase.com or via our Consumer mobile apps. We will make a separate announcement if and when this support is added,” the company confirmed.
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