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Coinbase does away with GDAX name, acquires Paradex ERC20 relayer

Coinbase does away with GDAX name, acquires Paradex ERC20 relayer

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.”

“We’re thrilled to announce the acquisition of Paradex, a relay platform that will allow our customers to trade hundreds of tokens directly from their wallets. The move not only reinforces Coinbase’s commitment to investing in decentralized infrastructure and participating in the nascent world of wallet-to-wallet trading, but also our focus on the international crypto trader. After making some product enhancements, we’ll initially offer this experience to customers outside the U.S., and eventually to U.S.-customers.”

Brian Armstrong, Co-Founder and CEO at Coinbase

0x token was up for the day on the news, Paradex is built on top of the 0x protocol.

Check Out...  Paradex token relayer adds new assets in first update since Coinbase acquisition



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