In a strategic move to bolster liquidity and improve market health, leading digital asset exchange Coinbase has announced the suspension of 80 non-USD trading pairs. The exchange, renowned for its commitment to ensuring a robust trading environment, will delist these pairs, which include prominent assets like Bitcoin (BTC), Tether (USDT), and the Euro.
This decisive action comes after diligent market monitoring efforts and will affect trading on the Coinbase Exchange, Advance Trade, and Coinbase Prime platforms. The company emphasized that this measure builds upon previous steps taken to uphold market integrity.
While this development may raise concerns among affected users, Coinbase assures that those in eligible regions will still be able to access these trading pairs. This can be achieved by utilizing the exchanges’ more liquid USD order books through their USDC balances. Alternatively, users can continue trading these pairs by unifying them with USD through their “USDC balances to trade in both USD or USDC order books.”
Coinbase introduced the USDC unification initiative in April, enabling users to leverage their USDC balance for trading on USD books. This enhancement was aimed at providing a seamless and convenient experience for depositing, withdrawing, and trading, 24/7.
It is worth noting that the 80 non-USD markets account for a negligible fraction of the platform’s overall global trading volumes, as confirmed by the company. This move demonstrates Coinbase’s unwavering commitment to maintaining a healthy and vibrant trading ecosystem.
With this strategic suspension, Coinbase aims to set a precedent for enhancing liquidity in the digital asset space, further solidifying its position as a forward-thinking industry leader.
