Sirlibz
Coinbase CryptoCurrency exchange has announced that it’s Pro edition of the exchange will support Wrapped Bitcoin (WBTC). Deposits are being accepted since the 19th of October from the U.S customers of the San Francisco based conditions are met, then it would go live with both WBTC-USD and WBTC-USDC pairings. By the “if liquidity conditions are met”, the exchange means that if enough interest is shown towards the listing, this would also determine if it would be getting listed or not.
WBTC is a synthetic version of Bitcoin that operates in the Ethereum blockchain. They are over 105,132 WBTC in existence which amounts to $1.2 billion. Wrapped Bitcoin (WBTC) had started creating awareness and gaining some spotlight around June, when Bitcoiners decided to work on Ethereum-based decentralized finance (Defi) protocols which involved mostly non-custodial lending and decentralized exchange protocols. Wrapped Bitcoin was created by BitGo, Ren and Kyber and is currently the most popular synthetic version of Bitcoin with over 73% of the total market share, Dune Analytics reported.
Coinbase Pro plans on launching in a four step approach which are transfers, post-only, limits and full trading. This would enable them to fill it’s order books in order to ensure there is enough funds for a smooth launch. As earlier noted, the exchange plans to monitor the progress and interest users show towards the listing, so they would only proceed to the next stage if the market appears “healthy and orderly “.
When speaking regarding listing WBTC to the main exchange platform Coinbase, the blog post stated. “We will make a separate announcement if and when this support is added,” .
