Adding Ethereum Classic Support to Coinbase

We are pleased to announce our intention to add support for Ethereum Classic (ETC) to Coinbase in the coming months. We are announcing this both internally and to the public consistent with our process for adding new assets.

Per this process, we will now begin the engineering work (Step 4) for supporting Ethereum Classic. As part of this process, customers can expect to see public-facing APIs and other signs that the asset is being added. When we reach the final testing phase of the technical integration, which we expect to occur over the next few months, we will publicly announce a launch date for trading via our blog and Twitter (Step 5).

What Ethereum Classic support means for our products

Coinbase Custody — the Custody team is planning to add support for deposits and withdrawals of Ethereum Classic. Note that Custody will likely support more assets than those available to trade on Coinbase Markets, Coinbase Pro, Coinbase Prime and Coinbase for the foreseeable future.

Coinbase Markets — the Markets team is planning to add trading support for Ethereum Classic. In accordance with our Trading Rules, all ETC books will open in post-only for a minimum of one hour. If sufficient liquidity is established, trading will then be enabled on Pro and Prime.

Coinbase Pro — the Pro team is planning to add trading support for Ethereum Classic. Note that customers who previously had an Ethereum Classic balance on the platform as a result of the 2016 Ethereum hard fork and did not elect to withdraw their funds prior to January 2017 will receive a corresponding Ethereum Classic credit.

Coinbase Prime — the Prime team is planning to add trading support for Ethereum Classic. Note that customers who previously had an Ethereum Classic balance on the platform as a result of the 2016 Ethereum hard fork and did not elect to withdraw their funds prior to January 2017 will receive a corresponding Ethereum Classic credit.

Coinbase Asset Management — any asset listed on Coinbase Markets will be added to Coinbase Index in accordance with the Coinbase Index methodology. Coinbase Index Fund will rebalance to include Ethereum Classic.

Coinbase — per our previous guidance, Coinbase will list assets only after they are listed on Coinbase Pro and Prime. After evaluating factors such as liquidity, price stability, and other market health metrics, we may choose to add Ethereum Classic to the Coinbase platform. It’s also worth repeating that Coinbase Markets, Coinbase Pro and Coinbase Prime will likely have more assets listed on the platform than the Coinbase platform, i.e. listing on Coinbase Markets does not guarantee listing on Coinbase.

Frequently Asked Questions

Q: What is Ethereum Classic (ETC) and how does it differ from Ethereum (ETH)?

Ethereum Classic is a cryptocurrency that was the result of a hard fork of the Ethereum network in July 2016. You can read more about Ethereum Classic here. You can read more about what a cryptocurrency fork is here.

Q: When will trading be available?

Per our public process for adding new assets, we will now begin the engineering work (Step 4) for supporting Ethereum Classic. As part of this process, customers can expect to see public-facing APIs and other signs that the asset is being added. When we reach the final testing phase of the technical integration, which we expect to occur over the next few months, we will publicly announce a launch date for trading via our blog and Twitter (Step 5).

Q: How will you roll out trading support for a new asset?

When we reach the final testing of the technical integration, we will announce a date that customers on Pro and Prime can begin placing limit orders on the Ethereum Classic order book on Coinbase Markets. Once that resting market reaches sufficient liquidity, we will then enable trading.

Q: What geographies will you offer support for Ethereum Classic?

We plan to offer support for Ethereum Classic in all geographies where the asset is compliant with local law.

Q: How did you control for material nonpublic information when deciding to add support for Ethereum Classic?

We followed our public process for adding new assets to Coinbase. Also, any personnel at Coinbase who were aware of the company’s plans to add Ethereum Classic were subject to a trading blackout.

Q: What assets are you adding next?

We have previously announced our intention to support the ERC20 technical standard and Bitcoin forks. We will announce the intention to add specific assets within those categories prior to final engineering integration. This is consistent with our public process for adding new assets.

Q: I had Ethereum on GDAX at the time of the July 2016 hard fork and I did not withdraw my Ethereum Classic prior to January 2017. Will I receive an Ethereum Classic credit when trading launches?

Yes. Note that Ethereum was only supported on GDAX at the time of the July 2016 hard fork. Support for Ethereum on Coinbase’s consumer interface was added after the hard fork, so only exchange users that had Ethereum balances were subsequently eligible for Ethereum Classic withdrawals.


Adding Ethereum Classic Support to Coinbase was originally published in The Coinbase Blog on Medium, where people are continuing the conversation by highlighting and responding to this story.

Our path to listing SEC-regulated crypto securities

By Asiff Hirji

Today, we’re announcing that Coinbase is on track to operate a regulated broker-dealer, pending approval by federal authorities. If approved, Coinbase will soon be capable of offering blockchain-based securities, under the oversight of the US Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA). This step forward is being made possible by our acquisition of a broker-dealer license (B-D), an alternative trading system license (ATS), and a registered investment advisor (RIA) license.

There are now many types of blockchain-based digital assets, from cryptocurrencies to security tokens to collectibles. In the United States, some of these assets will be subject to SEC oversight. With this in mind, securing these licenses will bring us a step closer to our goal, which is to be the most trusted way for our customers to buy, sell, and use many different types of crypto assets.

Following our recent announcement of the Coinbase suite of institutional products, we believe this is an important moment for the crypto ecosystem, and yet another indication of the maturation of the crypto economy. If approved, these licenses will set Coinbase on a path to offer future services that include crypto securities trading, margin and over-the-counter (OTC) trading, and new market data products.

Ultimately, we can envision a world where we may even work with regulators to tokenize existing types of securities, bringing to this space the benefits of cryptocurrency-based markets — like 24/7 trading, real-time settlement, and chain-of-title. We believe this will democratize access to capital markets for companies and investors alike, lowering costs for all participants and bringing additional transparency and inclusion to the ecosystem.

This is all being enabled by our acquisition of Keystone Capital Corp., Venovate Marketplace, Inc., and Digital Wealth LLC.

We see this is as an important step toward a more open financial system for the world. We look forward to sharing more updates as we pursue these licenses and strive to bring the benefits of blockchain to the regulated financial services industry.


Our path to listing SEC-regulated crypto securities was originally published in The Coinbase Blog on Medium, where people are continuing the conversation by highlighting and responding to this story.

Update: Our Commitment to Supporting Coinbase Customers

In 2017, the cryptocurrency space experienced a profound uptick in mainstream awareness and growth. As part of that consumer demand for our services increased by 40x and we experienced transaction volumes in November and December of that year that grew by 295%. We viewed last year’s unprecedented growth as an opportunity to analyze our systems and build a plan to ensure we’re providing the level of service to our customers that meet the highest standards for support.

We have been laser focused on improving the service experience for our customers and as part of that effort, I shared a 90 day plan to address the most pressing operational issues that were interfering with our ability to scale our customer support to meet demand. Today, we’re sharing the progress we’ve made and where we’ll go from here.

Over the last 90 days we have:

  • Increased our support team by over 150%
  • Decreased our average time to first response to < 10 hours for 95% of incoming volume today.
  • Because of these measures, we are able to resolve issues faster and have decreased the backlog by 95%

Increasing capacity to meet the demand: In addition to helping our customers resolve any issues they experience with their account, we also spend time helping them understand digital currency. We needed to hire more people to meet the growing demand for support and education.

  • We now have over 600 support agents working on our queues across three different locations and we offer phone support 24 hours a day, seven days a week.
  • We will be opening two offices dedicated to support — one in Portland later this month and a new office in Europe at the end of the summer.

Tackling the backlog: As we stated in January, 2017 was a year of rapid growth for the industry. This led to many customers experiencing long wait times from our support team. In order to quickly solve these outstanding problems, our engineering, product and support teams worked side-by-side for 10 days to tackle our backlog and prevent reoccurring issues.

  • Working this way allowed us to close out 40,000 tickets over a five day period. Despite a continued and steady volume of tickets coming into our systems from customers, our backlog hit record low volumes in March.
  • Today we continue to see our average time to first response and first resolution trend downwards and our total volume of escalations are down close to 80% overall.

All that being said, our work is never done. Here’s what we’re working on next:

  • Published Service Levels: Over the next 90 days we will baseline and publish our committed time to resolution so our customers understand the bar we are setting for ourselves to deliver fast resolutions to their issues.
  • Additional Channels: In addition to phone and email, we will launch social media and chat support later this year.
  • Revamped Help Center: We will be updating our Help Center by the end of the year for better ease of use, more educational material and a simple way to contact us.

We will continually communicate the steps we’re taking to improve our service and keep you posted on our journey.

As always, thank you for being customers.


Update: Our Commitment to Supporting Coinbase Customers was originally published in The Coinbase Blog on Medium, where people are continuing the conversation by highlighting and responding to this story.

Announcing the Coinbase Suite of Institutional Products

The cryptocurrency market is maturing rapidly as more sophisticated institutional participants enter the space. In fact, in the past few months over 100 hedge funds were created that exclusively invest in and trade cryptocurrency. Some of the world’s largest financial institutions have also recently announced their plans to begin trading cryptocurrency.

At Coinbase, we welcome these developments as they help accelerate the world’s adoption of cryptocurrency by bringing new capital, greater awareness, and additional infrastructure to the space. This movement requires institutional grade products and services, something Coinbase has been developing with leading institutions and which we are proud to formally launch today.

Coinbase Custody to Launch in Partnership with SEC-regulated Broker-Dealer

We have leveraged our experience safely storing more than $20 billion of cryptocurrency to create Coinbase Custody, the most secure crypto storage solution available. In partnership with an SEC-regulated broker-dealer, Coinbase Custody is proud to offer a service that couples Coinbase’s cryptocurrency security excellence with third-party auditing and financial reporting validation that operates at the high standard of an SEC-regulated, custodial broker-dealer.

Our Coinbase Custody launch partners are all leading institutions in the crypto industry, including:

Some of the Coinbase Custody launch partners.

If you’re an institution interested in a custody solution, sign up here to receive more information about Coinbase Custody.

Introducing Coinbase Markets

Coinbase already offers the deepest pool of liquidity to the largest number of participants in the cryptocurrency space. We intend to continue developing this electronic marketplace, known as Coinbase Markets, by opening a new engineering office in Chicago and cementing Coinbase as the leading cryptocurrency exchange.

Coinbase Markets provides a centralized pool of liquidity for all Coinbase products. Over the course of the year Coinbase Markets will introduce new features like low latency performance, on-premise datacenter colocation services, institutional connectivity and access, and settlement and clearing services. These additions will allow for a more efficient price discovery process to occur, creating tighter markets, deeper liquidity, and increased certainty of execution.

We are thrilled to open an office in Chicago and have access to a large talent pool of engineers with deep exchange infrastructure experience. This office will serve as the home for our Coinbase Markets team and enable us to continue offering the most performant and reliable cryptocurrency exchange. Chicago is an ideal location for our newest Coinbase office and we hope our investment will continue to position the city as a growing hub for technological innovation.

Launching Coinbase Prime

We are also excited to announce the launch of Coinbase Prime, a new platform designed specifically to provide a suite of tools and services that institutional investors rely on when trading cryptocurrency.

This product will fill a missing piece of critical infrastructure needed for institutions. Over the course of the year we intend to offer lending and margin financing products to qualified clients, high touch and low touch execution services like over-the-counter (OTC) trading and algorithmic orders, and new market data and research products. We will also introduce platform improvements like multi-user permissions and whitelisted withdrawal addresses.

The Coinbase Prime trading interface.

We believe Coinbase Prime will accelerate adoption of cryptocurrency worldwide and we are excited to help institutions everywhere participate in this emerging asset class. To learn more or sign up as an institution, check out Coinbase Prime.

The Coinbase Institutional Coverage Group

We understand that institutions need more than great products, they need great service too. Our Institutional Coverage group is focused exclusively on serving the needs of institutional clients by providing sales, sales trading, research, market operations, and client services support. This group, headquartered in our New York City office, brings years of diverse and relevant institutional experience from firms such as the New York Stock Exchange, Morgan Stanley, and the SEC and CFTC.

By guiding clients through the onboarding process and advising on execution strategies, this team will deliver a best-in-class client experience. We are proud to offer personalized white-glove service and help institutional investors navigate the increasingly complex world of cryptocurrency investing.

As institutions continue to enter the cryptocurrency market, we are committed to building the products and services that uniquely meet their needs. We believe our suite of products and dedicated Institutional Coverage group will accelerate the rate of institutional adoption and create a more mature and diverse market. If you’re interested joining the Coinbase Institutional team, check out our careers page.


Announcing the Coinbase Suite of Institutional Products was originally published in The Coinbase Blog on Medium, where people are continuing the conversation by highlighting and responding to this story.