US bitcoin exchange Coinbase informed they are doing away with the GDAX name for its professional exchange. In its current form, it will now be known as Coinbase Pro. The move coincides with today’s news of Coinbase preparing to integrate Paradex, the newly acquired token relay app. Paradex provides a unique ERC20 relayer. The app allows trustless trade, no custodianship, and no account sign-up.
GDAX and Coinbase Pro will operate side-by-side until June 29, 2018, with activity mirrored on both platforms. After June 29, all customers will be seamlessly rolled over to Coinbase Pro.
On joining forces with Coinbase, the Paradex team said:
“We know we’ve been a little quiet, but we’ve been hard at work, and we’re incredibly excited to share that Paradex is joining Coinbase!”
“One year ago this month, we set out to build the best decentralized relayer that empowers users with self-custodianship. A year later, we’re not only extremely proud of what we’ve achieved, but intensely optimistic about where our space is headed and the explosion of opportunity growing each and every day.”
“It was clear from our first conversations with Coinbase that the excitement and optimism was mutual. Like Coinbase, we believe wholeheartedly in the power of an open financial system; it’s paramount to what we’re working towards at Paradex. In our next steps together, we’ll continue to build out the existing Paradex roadmap and continue to explore the world of decentralization and the amazing opportunities at hand.”
0x token was up for the day on the news, Paradex is built on top of the 0x protocol.