Coinbase Pro to add support for Avalanche's AVAX token

Layer 1s • September 29, 2021, 5:33PM EDT
The Block

Coinbase Pro will soon allow account holders to start trading Avalanche (AVAX) tokens on its platform, the exchange announced on Sept. 29 in a blog post. 

Coinbase Pro users are now able to transfer so-called C-Chain AVAX tokens into their account, and AVAX trading will begin “on or after” 9 a.m. Pacific time on Sept. 30, provided that liquidity requirements on the platform are met.  The asset is not currently available on the standard Coinbase platform or its consumer apps, the company said.

“C-chain Avalanche addresses start with ‘0x’,” Coinbase clarifies on its blog. “Sending Avalanche on P-chain or X-chain or any other assets to a Coinbase Pro wallet will result in permanent loss.”

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Avalanche is a proof-of-stake blockchain developed by Ava Labs. Avalanche recently raised $230 million in a token sale led by Polychain and Three Arrows Capital.

Coinbase Pro will join other exchanges including Binance and BitPanda in listing AVAX tokens.

"This listing increases the accessibility of #Avalanche to a broader set of users, including those in the US," Avalanche wrote in a Twitter update.

 

About Author

Kristin Majcher is a senior correspondent at The Block, based in Colombia. She covers the Latin America market. Before joining, she worked as a freelancer with bylines in Fortune, Condé Nast Traveler and MIT Technology Review among other publications.

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