Coinbase Assets has made an important announcement via X (previously known as Twitter), stating that it will offer support for Movement (MOVE), which is an ERC-20 token operating on the Ethereum network.
As per the official announcement, transfers related to MOVE are now accessible on the Coinbase Exchange within the regions where trading is permitted. Moreover, the MOVE-USD trading pair will be gradually introduced as the availability of tokens increases. It’s worth noting, though, that MOVE may not be accessible in all regions.
MOVE is an integral part of a modular blockchain system that has been crafted to assist developers in building blockchain applications that are both fast and secure while also being well-connected. It serves as a link between the Move and Ethereum Virtual Machine (EVM) ecosystems and holds the distinction of being the first Move-EVM Layer 2 solution for Ethereum.
The project, which is spearheaded by Movement Labs, enjoys the backing of several major investors including Polychain Capital, Binance Labs, Hack VC, Placeholder, and Archetype.
If sufficient liquidity is achieved, trading of MOVE is anticipated to commence later today. Coinbase has categorized MOVE under the “Experimental” label, suggesting that it is a relatively new or less established asset on its platform. Users are thus cautioned to conduct transfers of MOVE solely through the Ethereum network to prevent any potential loss of their funds.
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