Today, Coinbase Pro announced that it would be adding is adding support for Filecoin. Trading is slated to begin this Wednesday at 9 AM Pacific Time (PT).
Coinbase Adds Filecoin
Users of the exchange’s trading platform can now send FIL to their Coinbase Pro accounts.
The available order books will be FIL-USD, FIL-BTC, FIL-EUR and FIL-GBP, and they’ll launch in three phases: post-only, limit-only, and full trading.
It’s another update showing that the San Francisco company is focused on expansion. Last week, Coinbase Custody added support for six new tokens, providing institutional investors with a vault for assets like CRV and REN.
Coinbase regularly researches emerging digital currencies and reports on those it’s considering or due to list. An announcement of a listing often has a positive impact on the price of a token.
Filecoin is a decentralized data storage network, akin to a service like Dropbox on the blockchain for storing “humanity’s most important information.” The project has been talked about in the blockchain space since 2017.
Its token, FIL, went live on Oct. 15. It’s worth around $31 today, putting Filecoin’s market cap at over $1.4 billion.