Token Backed By Ether Makes Listed On Top Exchange
Coinbase and 0x management aim to establish a permissionless system that will act as a base for financial transactions.
ERC2O Backed Token Listed On Coinbase
Coinbase has for the first time listed an ERC20 token on its platform. The giant exchange has listed 0x (ZRX) under the Coinbase Pro, its professional exchange platform. The ERC20 token is anchored on the ethereum open ledger.
According to 0x proprietor, Will Warren, he holds similar goals with Coinbase boss Brain Armstrong. Both parties seek to establish an open financial platform for the global economy.
In a statement from both parties, their main goal is to ensure that we have all forms of tokenized open ledger. Among the assets, they are targeting include fiat and video games among others.
The two firms want to utilize the existing financial primitives to build a financial platform that is anchored on efficiency and openness. Once such a platform is open, it will be operated on an open-ended code eliminating the role of middlemen at the same time empowering individuals.
At the moment, Coinbase Pro backs a number of trading pairs such as ZRX/BTC. Before the entire release has been initiated, we will have a 12-hour transfer only phase for order statements.
Coinbase has plans to list ZRX on its website coinbase.com. It will also be available on all its mobile applications in the coming days.
With 0x design, it is set to propel the decentralization via the open system that permits the exchange of ERC20 assets on the ethereum blockchain. Firms seeking to transact in a decentralized surrounding will greatly benefit from the system. Coinbase Pro boss David Farmer, said once we have liquidity set up, an exchange will be open to clients in many regions across the US with New York being the first.