Open-source crypto-asset Dash (DASH) has finally been able to meet the stringent listing criteria of Coinbase Pro. At present, the trading pairs Dash/USD and Dash/BTC will be available.
Coinbase was looking to add eight new coins to its exchange; Dash was one of them. Adding of Dash to the Coinbase Pro exchange implies that it will be available to all customers in the jurisdiction supporting this exchange; except for New York and the United Kingdom because of their strict regulatory norms.
To maintain the sanity and integrity of the platform and to protect the interests of its customers, the trading platform will be launching DASH in four phases: Transfer-only, Post-only, Limit-only, Full trading.
As notified, the first phase of operations will commence from September 16, 2019. They will then be followed by post-only phase. In this phase, traders will be allowed only to post limit orders. Order books will be there in this mode for only one minute. In the next stage, matching of limit-only orders will be done, but traders will not be able to submit market orders during this time. The minimum time frame for this stage is for a 10 minute. If everything works out as per the plan, then full trading would commence from September 17, which includes limit, market, and stop orders.
According to officials from Coinbase,
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 order book in one state for a longer period or suspend trading entirely, according to our Trading Rules.
Coinbase.com is one of the biggest American crypto asset trading platform and wallet provider. Coinbase Pro is the professional trading platform of Coinbase.com. Coinbase is working in collaboration with local banks and regulatory bodies to make the new crypto coins available to its clientele in the most number of jurisdictions that it can. The officials said that this process needs “significant exploratory work from both a technical and compliance standpoint.”
DASH is the 15th largest digital currency by way of market cap. It offers a form of currency that can be utilized both online and offline, with a minimal transaction fee.