- Coinbase has hinted that it would list Ethereum PoW tokens if they meet its listing criteria.
- The publicly-listed exchange added that it would temporarily suspend deposits and withdrawals for Ethereum on the verge of the merge.
- Other top exchanges like Binance, OKX, Poloniex and others have also revealed interest in listing ETH PoW tokens.
The publicly listed exchange made this known in an August 26 tweet, adding that it is fully committed to supporting the Ethereum network migration to a proof-of-stake network.
Coinbase is committed to fully supporting the upgraded Ethereum PoS chain following The Merge.
— Coinbase Assets (@CoinbaseAssets) August 25, 2022
According to Coinbase, its “goal is to list every asset that is legal and safe to list.” Thus, the exchange will evaluate every ETH fork token after the merge “on a case by case basis in alignment with our standard asset listing policy.”
It further assured customers that all potential forked Ethereum tokens would go through the same listing review process as any other asset on the exchange.
Coinbase recently announced the launch of a utility token called Coinbase Wrapped Staked ETH (cbETH) for its users.
Coinbase to Pause Ethereum Deposits and Withdrawals
Meanwhile, Coinbase further announced that it would pause ETH and ERC-20 tokens withdrawals and deposits during the Merge. It said this is to ensure that the transition reflects in its systems.
Users will be notified via Twitter and the status page as soon as the tokens are available for deposits and withdrawals. With this decision, Coinbase joins the growing list of exchanges that have promised to support Ethereum proof-of-work tokens that meet their standards.
Exchanges Reveal Support for Ethereum PoW Tokens
While many within the crypto community are highly anticipating the Ethereum merge slated for mid-September, there has been increased chatter about the possibility of a hard fork.
Chandler Guo, one of those leading the move for a hard fork, predicted there could be as many 7 or 8 POW hard forks after the Merge.
Most major exchanges, including Binance, OKX, Poloniex, BitMEX, MEXC Global, Gate Exchange, etc., have revealed their support for Ethereum hard fork PoW tokens as long as these tokens meet their listing criteria.
Some have already created tickers for the forked tokens, saying users can swap their ETH at a 1:1 ratio for the forked tokens. But others are waiting for the outcome of the Merge.
