Coinbase has announced support for the cryptocurrency Tezos on its Coinbase Pro platform starting in August.
Major cryptocurrency platform Coinbase is onboarding the cryptocurrency Tezos (XTZ) to its professional trading platform, Coinbase Pro. As per an official announcement, Coinbase Pro will open up inbound XTZ transfers on August 5.
As the company has done in the past, Coinbase Pro will ramp up to full XTZ trading in four steps: (1) transfer-only, (2) post-only, (3) limit-only, and finally (4) full trading. Additionally, the exchange will document the on-boarding steps on Twitter. All jurisdictions are stated to receive immediate support for the new offering, with the exception of New York State.
The company also notes that Tezos is not available on its main website, Coinbase.com, or its mobile apps.
The Tezos platform
In addition to its cryptocurrency XTZ, Tezos has a platform for crypto-ledgering, which uses smart contracts and Proof of Stake voting.
As reported by Cointelegraph, the major Latin American investment bank BTG Pactual announced that it is planning to shift its security token offerings onto the Tezos blockchain and smart contracts platform. Dalma Capital, who has partnered with BTG Pactual, is also planning use Tezos to tokenize a variety of assets, including real estate, equity, lending, as well as global sports clubs.
In a recent industry move, Tezos hired a former PwC executive as the company’s CFO in June. Tezos Foundation president Ryan Jesperson commented:
“As the foundation continues to provide resources to a growing Tezos ecosystem, the CFO and operations lead will be critical to our success. Roman’s experience makes him the ideal finance and operations specialist for our team. He is already familiar with the opportunities and challenges blockchain projects face and has a deep understanding of the Tezos Foundation from his time at PwC.”