Major American cryptocurrency exchange Coinbase is adding support for Orchid (OXT) on its professional trading platform Coinbase Pro.
According to a blog post published by Coinbase on Dec. 12, Coinbase Pro will start accepting OXT deposits starting Friday, Dec. 13, “for at least 12 hours prior to enabling full trading.” The company also noted:
“Once sufficient supply of OXT is established on the platform, trading on the OXT/USD order book will start in phases, beginning with post-only mode and proceeding to full trading should our metrics for a healthy market be met.”
As the company has done in the past, Coinbase Pro will ramp up to full OXT trading in four steps: transfer-only, post-only, limit-only and finally full trading.
Coinbase also notes that OXT is not yet available on Coinbase.com, or via its mobile apps, but pointed out that it will make a separate announcement if and when this functionality is added.
Support for OXT not available everywhere
The crypto exchange also added that not everyone will be able to enjoy the new features. According to the announcement, OXT will be immediately available in Coinbase’s supported jurisdictions, with the exception of New York State and the United Kingdom. Additional regions “may be added at a later date.”
Orchid offers a decentralized virtual private network (VPN) service for anonymous communication and virtual private networking. It includes a bandwidth market where node providers stake tokens to advertise their services using the Ethereum blockchain and receive payment in Orchid’s native cryptocurrency OXT.
Coinbase Pro released iOS mobile app
In October, Coinbase introduced a mobile app for Coinbase pro customers. The iOS mobile app provides access to more than 50 trading pairs for users in over 100 countries, and duplicates the platform’s features including real-time candles, depth charts, order books and types. Users of the app reportedly pay the same fees for orders as those executed on the desktop platform.