Coinbase adds Stellar Lumens (XLM) on its professional trading platform
Stellar Lumens has just become the latest cryptocurrency to be listed on Coinbase’s professional exchange.
Trading on the XLM/USD, XLM/EUR, and XLM/BTC order books will soon start in phases, beginning with post-only mode and proceeding to full trading should Coinbase’s metrics for a healthy market be met. Support for XLM will be immediately available in Coinbase’s supported jurisdictions, with the exception of New York State. Additional jurisdictions may be added at a later date.
There will be four stages to the launch:
- Transfer-only. Starting at 1pm PT on March 13, customers will be able to transfer XLM into their Coinbase Pro account. Customers will not yet be able to place orders and no orders will be filled on these order books. Order books will be in transfer-only mode for approximately 12 hours.
- 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.