Coinbase Added Kusama (KSM) Support Into Its Platform

  • Crypto exchange Coinbase is set to list Kusama (KSM) today.
  • Trading Kusama might be regulated in some regions.
  • Coinbase disclosed six altcoin to be added to the platform in the future.

Last month, the cryptocurrency trading platform Coinbase confirmed in a blog post the listing of Kusama along with FLOW into its platform.

Today, Coinbase announced in a tweet that the exchange will now add Kusama (KSM) support into the platform. Coinbase will start accepting inbound transfers of the newly listed cryptocurrency in supported regions.

Kusama is a protocol that allows cross-blockchain transfers of any type of data or asset. It aims to achieve high degrees of security and scalability by connecting multiple blockchains.

KSM is the native token of Kusama, which serves as a “canary network” for Polkadot. It means that Kusama is a nearly identical copy of the Polkadot blockchain that assists by testing new features before Polkadot deploys.

In the event that the liquidity conditions are met, the trading will be open on or after 9AM Pacific Time on June 2. KSM-USD and KSM-USDT trading pairs will launch in stages once enough supply of Kusama has established trading. Kusama support may be regulated in some regions.

Coinbase also revealed its registered altcoin projects in the “planned to list” category. Soon, the exchange will add BitDAO (BIT), Coin98 (C98), Gemini USD (GUSD), Index Cooperative (INDEX), Mines of Dalarnia (DAR), and Wrapped Ampleforth (WAMPL).

At the time of writing, the price of KSM is at $72.58, down 10.99% in the last 24 hours. KSM is 88.36% below its all time high (ATH) price of $623.75.

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Bryan is a gamer who became genuinely interested in crypto after his initial exposure to Play-to-Earn games like Axie Infinity and Pegaxy. He has basic knowledge of technical analysis and is keeping an eye out for interesting developments in the metaverse and GameFi space.