Cryptocurrency exchange Coinbase announced Monday that it would begin launching XRP trading support for its Coinbase Pro customers. In a blog post announcing the news, the company said that XRP will initially be supported for customers in Australia, Canada, the EU, Singapore, the UK, and the US - except New York.
The company outlined its plan for rolling out support for XRP, announcing that Coinbase Pro would begin to accept inbound XRP transfers for at least 12 hours before full trading capabilities would be enabled. That transfer-only stage is the first of four stages Coinbase Pro will use to launch XRP support. During that first stage, no orders can be placed or filled.
Once the transfer-only stage is complete and “sufficient supply of XRP is established on the platform,” the next three stages of the launch will begin:
Post-only. In the second stage, customers can post limit orders but there will be no matches (completed orders). Order books will be in post-only mode for a minimum of one minute.
Limit-only. In the third stage, limit orders will start matching but customers are unable to submit market orders. Order books will be in limit-only mode for a minimum of ten minutes.
Full trading. In the final stage, full trading services will be available, including limit, market, and stop orders.
The company also said that it would be evaluating each stage independently, and noted that it would respond quickly if problems are identified:
If at any point one of the new order books does not meet our assessment for a healthy and orderly market, we may keep the book in one state for a longer period of time, or suspend trading as per our Trading Rules.
XRP support on Coinbase Pro will offer trading pairs in Bitcoin, the euro, and U.S. dollars.