- Coinbase Pro has listed Tether (USDT)
- Deposits are enabled effective immediately and only for supported jurisdictions
- Coinbase Pro will only accept the ERC20 version of Tether (USDT)
- The decision comes after the NYAG settled with Tether and Bitfinex
- Tether has also made a commitment to providing regular audits of its reserves
The popular digital asset exchange of Coinbase Pro has announced that it has listed Tether (USDT) effective immediately. Support for USDT will be available for all jurisdictions in which Coinbase Pro has operations. However, the availability of Tether (USDT) will be restricted to the state of New York.
Coinbase Pro to Only Support ERC20 Version of Tether (USDT)
Moreover, Coinbase Pro will only support the ERC20 version of Tether (USDT) on the Ethereum blockchain. Deposits of this version of Tether are currently open, with trading officially scheduled to begin on Monday, April 26th.
The announcement by the exchange went on to provide the following trading pairs once the supply of USDT on the exchange reached acceptable levels.
Once sufficient supply of USDT is established on the platform, trading on our BTC-USDT, ETH-USDT, USDT-EUR, USDT-GBP, USDT-USD and USDT-USDC, order books will launch in three phases, post-only, limit-only and full trading.
Regular Coinbase Yet to Support Tether (USDT)
Tether (USDT) is not yet available on the regular Coinbase.com or either of the mobile apps. The exchange will notify users once USDT support is added to the additional platforms.
Tether Settled with NYAG and Showed Commitment to Providing Regular Audit Reports
The move by Coinbase Pro to list Tether (USDT) comes two months after the company settled with the New York Attorney General’s office for $18.5 million. The settlement also ordered Tether and Bitfinex to provide constant reports on their business functions as well as audits of funds held in their reserves.
One month after the settlement, Tether released an independent report by Moore Cayman that confirmed that all existing USDT is backed by actual fiat.