On Wednesday, August 14, 2019 after 10am PT, we will begin accepting inbound transfers of ALGO to Coinbase Pro. We will accept deposits for at least 12 hours prior to enabling full trading, which will occur during business hours, Pacific time.
Once sufficient supply of ALGO is established on the platform, trading on the ALGO/USD order book will start in phases, beginning with post-only mode and proceeding to full trading should our metrics for a healthy market be met. Support for ALGO will be immediately available in Coinbase’s supported jurisdictions, with the exception of New York State. Additional jurisdictions may be added at a later date.
Founded by cryptographer and Turing award winner Silvio Micali, Algorand aims to solve some of the technical barriers of existing blockchain infrastructure. In particular, the project seeks to improve decentralization, scalability and security. Launched in June 2019, Algorand provides a foundation for existing businesses and new projects to operate globally in the emerging decentralized economy. Algorand’s permissionless, pure proof-of-stake protocol supports the scale, open participation, and transaction finality required to build scalable blockchain projects.
Please note that ALGO is not yet available on Coinbase.com or via our consumer mobile apps. We will make a separate announcement if and when this functionality is added.