Coinbase, the leading cryptocurrency trade exchange, earlier this week, declared that it is now functional on the final parts for testing support for ETC (Ethereum Classic). Coinbase, in June, disclosed that it had intentions to include Ethereum Classic to its registered assets with reports to follow and at present, in its most recent update, it has notified the community of a provisional date for the accomplishment of final testing prior to legitimately registering the new asset.
In the declaration, Coinbase mentioned, “We anticipate final testing to be finished by August 7, upon which we will declare that we are set to allow inbound transactions of ETC. We plan to permit 24–48 H of inbound transfers via Coinbase Prime and Coinbase Pro prior to enabling trading.”
Also, Coinbase has elucidated the effect that the backing for the new asset will have in the diverse features within the services of the platform, explicitly, Coinbase Markets, Coinbase Custody, Coinbase Asset Management, Coinbase Prime, Coinbase Consumer, and Coinbase Pro.
As per the platform, Coinbase Prime, Coinbase Pro, and Coinbase Custody are “intending to include backing for inbound withdrawals and transfers of ETC.” Also, Coinbase Markets propose to include support to withdrawals and transfers with the intent “to enable 24–48 H of transfers via Prime/Pro prior to launching the markets.”
Coinbase Asset Management will be including any asset registered on Coinbase Markets to Coinbase Index, which will rebalance to add ETC.”
Ultimately, the Coinbase Consumer service will “log assets only after they are logged on Coinbase Prime & Pro” and the platform “intend to include backing for ETC on the Coinbase Consumer when adequate liquidity is instituted [and] anticipate this to take place roughly 1–2 weeks subsequent to trading starts on Prime and Pro.”
At present, Ethereum Classic has soared in worth by 10.88% day-on-day trading and is positioned at $18.48 USD.
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