Coinbase Will List Ethereum PoW Token if It Meets Listing Criteria
Coinbase said it will list any potential Ethereum proof-of-work tokens after the merger, as long as it meets its listing criteria.
publicly listed exchange This was announced in an Aug. 25 tweet, adding that it is fully committed to supporting the Ethereum network’s migration to a proof-of-stake network.
According to Coinbase, its “goal is to list all assets that are legally and safely listed.” As such, the exchange will evaluate each merged ETH fork token “on a case-by-case basis in accordance with our standard asset listing policy.”
It further assures customers that all potential forked Ethereum tokens will go through the same listing review process as any other asset on the exchange.
Coinbase recently announced the launch of a utility token called Coinbase Wrapped Staked ETH (cbETH) for its users.
Coinbase suspends Ethereum deposits and withdrawals
Meanwhile, Coinbase further Announce It will suspend withdrawals and deposits of ETH and ERC-20 tokens during the merger. It said this was to ensure the transition was reflected in its systems.
Users will be notified via Twitter and the status page once tokens are available for deposits and withdrawals.
With this decision, Coinbase joins a growing number of exchanges that have pledged to support Ethereum proof-of-work tokens that meet its standards.
Exchanges show support for Ethereum PoW tokens
While many in the crypto community are very much looking forward to the ethereum merger scheduled for mid-September, there has been growing talk about the possibility of a hard fork.
Chandler Guo, one of those leading the hard fork movement, predicted that there could be as many as 7 or 8 POW hard forks after the merger.
Most major exchanges, including Binance, OKX, Poloniex, BitMEX, MEXC Global, Gate Exchange, and others, have expressed support for Ethereum hard fork PoW tokens, as long as the tokens meet their listing criteria.
Some have created code for forked tokens that say users can exchange their ETH for forked tokens at a 1:1 ratio. But others are awaiting the outcome of the merger.
Binance has indicated that it will suspend deposits and withdrawals of ETH and all ERC-20 tokens until September 6, 2022, 11:00 UTC, and September 15, 2022, 00:00 UTC.
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