Coinbase Launches Coinbase Pro, Buys into Paradex

Bitcoin ATM Coinbase

In a blog post on its website, posted Wednesday, Coinbase announced Coinbase Pro, the newest version of its trading platform, GDAX.

The blog post says that Coinbase Pro is an evolution of GDAX, which was specifically designed with individual investors in mind. In addition, the platform has been made easier and more intuitive. Coinbase Pro will offer several new features to its users, such as a vastly simplified deposit and withdrawal process, in addition to letting the user take advantage of services like staking and protocol voting.

The Paradex protocol will also be integrated into Coinbase Pro, which according to the blog, will allow their customers to trade “hundreds of tokens directly from their wallets.” This means an expansion of the types of cryptocurrencies Coinbase users will have access to. The blog further says that the service will be made available first to users outside the US before eventually making its way to American Clients.

The financial details of the acquisition of Paradex were not mentioned in the blog post.

Coinbase assured users that both GDAX and Coinbase Pro will operate together until June 29, 2018, after which all users will be transferred to the new platform.

GDAX is currently ranked the seventh largest exchange in the world in terms of 24-hour trade volume, clocking in at $365.95 Million as of press time

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