As Coinbase recently added support for Ripple’s native token XRP, it has been announced that Stellar (XLM) is now available for trading on the Coinbase Pro platform.
Coinbase state in their announcement that “support for XLM will be immediately available in Coinbase’s supported jurisdictions, with the exception of New York State. Additional jurisdictions may be added at a later date.”
In a similar way to other listings, Stellar’s XLM launch on the platform will go through four initial stages. This namely transfers only which is the original deposit for the first twelve hours. The post-only mode will only last for a minute and will allow user post order but not matched. The Limit-only stage will last around ten minutes and the users’ limit order will begin to match but market orders will have to be put on hold for a time. And last but not least, the full trading stage will be available including limit, market and stop orders.
So far, the launch of Stellar on the platform has already gone through all four stages and so XLM is now fully available for Coinbase users. That being said it’s worth noting that it won’t be available on Coinbase.com or through the consumer mobile apps.
In a similar sense to XRP, Stellar is a kind of crypto project that has a focus at enhancing payments with XLM powering the Stellar payment network. The Stellar project has a “single vision” to make funds transfer as cheap and easy as possible, just like sending an email. From what we can gather, the project is intending to facilitate payments between banks, businesses and even individuals around the world by connecting them in a big network of payment.
The US-based exchange seems to be dedicated to listing more crypto assets that meet the conditions for a listing.
At the current time of writing, Stellar is one of the top performers of the day. The cryptocurrency has gone through an increase of 7.33 percent leaving it with a price of $0.11 at the moment and a market cap of $2,117,899,886.