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Digital currency exchange Coinbase Pro lists Kyber Network token

Image by Coinbase Pro

Fri, 21 Feb 2020, 11:00 am UTC

Digital currency exchange Coinbase Pro will be listing Kyber Network (KNC) token on its platform starting Monday.

In an online post detailing the announcement, KNC will only be available in Coinbase’s supported jurisdictions with the exceptions in New York and the United Kingdom.

"On Monday, February 24, we will begin accepting inbound transfers of KNC to Coinbase Pro. We will accept deposits for at least 12 hours prior to enabling full trading. Trading will begin on or after 9AM Pacific Standard Time the following day if liquidity conditions are met," it said.

KNC is the native token of the Kyber Network, a protocol that aims to simplify the swapping of digital assets and cryptocurrencies and make the process more efficient. The Ethereum token is currently among the top 100 cryptocurrencies by market capitalization.

When there is already a sufficient supply of KNC, trading on KNC/USD, and KNC/BTC order books will begin in phases. It will start with post-only mode and will proceed to full trading when the metrics for the healthy market are met. One should note that at present, KNC is not yet available on Coinbase.com.

Coinbase Pro launched its mobile app for its Android customers last month, which followed the launch of the iOS app in October 2019.

Meanwhile, Coinbase has become the first crypto company to receive a Visa principal membership, which will enable it to enhance its services for its customers by making it easier for them to spend cryptocurrency in everyday situations.

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