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Coinbase introduced the app in an Oct. 10 announcement. It provides access to more than 50 trading pairs for users in over 100 countries, and generally duplicates the platform’s features including real-time candles, depth charts, order books and types. Coinbase Pro’s mobile app users will pay the same fees for orders as those executed on the desktop platform.
Adoption of a new fee structure
Starting from Oct. 7, Coinbase Pro was set to adopt a new fee structure that would cause its maker trading fees for low tier — $10,000 and below — to surge.
As such, trades of $10,000 and lower would see maker fees increase by 233% — from 0.15% to 0.50%. Taker fees within the tier would surge 100% — from 0.25% to 0.5%.
At the time, Coinbase stated that the new fee structure is designed to “increase the depth and liquidity of […] markets.”
However, the new trading fee structure caused outrage among the crypto community, with some Coinbase Pro customers pointing out that the fee change comes amid significant reductions on stock brokerages.
Diversification of digital assets offerings
Along with the encrypted messaging app’s token, Gram (GRM), Coinbase Pro is considering the addition of a range of new assets — namely Avalanche, Celo, Chia, Coda, Dfinity, Filecoin, Handshake, Kadena, Mobilecoin, NEAR, Nervos, Oasis, Orchid, Polkadot, Solana and Spacemesh.
Earlier on Oct. 10, Coinbase revealed that Coinbase Custody — its digital assets custodian solution for institutional investors — will include support for the Telegram Open Network’s (TON) native token Gram when it goes live.