Crypto exchange platform Coinbase Pro adds Stellar Lumens support

Cryptocurrency exchange Coinbase has announced that it has added support for Stellar Lumens (XLM) on its professional exchange, Coinbase Pro.

XLM is currently the seventh largest cryptocurrency by market capitalization. It is trading at $0.10 at the time of writing.

The Stellar Lumen (XLM) is the native cryptocurrency of the Stellar payment network, which aims to connect banks, payment systems and individuals quickly and reliably.

According to a blog post dated March 13, Coinbase Pro has started accepting XLM deposits and will start trading once sufficient liquidity is established. It said:

“Once sufficient supply of XLM is established on the platform, trading on the XLM/USD, XLM/EUR, and XLM/BTC order books will start in phases, beginning with post-only mode and proceeding to full trading should our metrics for a healthy market be met.”

Coinbase said that the support for XLM will be immediately available in its supported jurisdictions, with the exception of New York State. It added that XLM support could be rolled out to additional jurisdictions at a later date.

“Please note that XLM is not yet available on Coinbase.com or via our consumer mobile apps. We will make a separate announcement if and when this functionality is added,” it added.