Coinbase, a major United States-based cryptocurrency exchange announces adding support for EOS in a press release on May 30. Reportedly, the token will be available for trading and storage in most areas covered by Coinbase, except the United Kingdom and New York at press time.
As per the announcement, no transaction fees are employes on EOS, the said cost will be paid in computing resources, such as a tax on RAM, CPUs, or network bandwidth. Users of the network can earn more EOS by contributing to the computational power that will be needed to run transactions.
Coinbase has been expanding its offering, just recently, the exchange added support for stablecoins dai and USD Coin (USDC) and in February, Ripple’s token XRP was added. In May, Coinbase also announced adding trading support for over 50 new jurisdictions further spreading its global offering.
In more recent news, Emilie Choi, the Vice President of Business, Data and International at Coinbase confirmed that there are no plans for decentralized trading as of now. Choi further commented on compliance-related issues that are subsequently deterring Coinbase in launching a decentralized exchange (DEX), saying:
“We have to make sure that if we offer a dex that we’re doing it in a way that is safe and secure and compliant. I think that there’s not a lot of clarity right now on how that would work. We think this space is interesting but we’re not actively investing in it right at this moment.”
Image source – Coinbase Blog