ERC20 tokens based on Ethereum like OmiseGO, 0x, Basic Attention Token, and Request Network may be soon integrated with the crytpo giant Coinbase based on the acquisition of the Paradex exchange located in San Franciso, CA.
Coinbase bought Paradex on May 23, 2018 and the DEX stopped operations shortly afterward. It then went back into action for residents outside the US.
Paradex offers 8 ERC20 tokens- BAT, MKR, NMR, OMG, REP, REQ, SNT, and ZRX all with no fees. EOS and Spankchain both were available for trading previously on the exchange, but Coinbase removed them because they didn’t pass new listings for coins. The Digital Asset Framework of Coinbase requires that tokens follow regulatory rules and meet usage standards.
Paradex integration with Coinbase is a huge step in gaining traction for ERC20 tokens, which will now get them more exposure than ever. A DEX integration into its expanding list of services will greatly improve the competitiveness of the platform compared to others. Bitfinex has been working on Ethfinex and Huobi has been planning to move many operations over to Hadax– their own decentralized exchange.
From this news, we can speculate that decentralized exchanges are going through the roof as issues with hacks and security become bigger issues.
Coinbase announced that they plan to roll out Paradex to non-US Coinbase Pro to users within a few weeks and that they’re trying to get permission to run Paradex in the US from the US government.
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