Following in the footsteps of other companies recently, Coinbase Exchange has announced its support for ether trading. To mark the start of its support of additional digital currencies, Coinbase Exchange has also decided to operate under a new brand: GDAX (Global Digital Asset Exchange).
Over the past four years Coinbase has recorded use by nearly four million consumers in order to buy, sell, and store bitcoin. Similarly, Coinbase Exchange has provided professionals a platform to trade billions of dollars of bitcoin. The difference between the two products is that Coinbase is a place for consumers to easily buy, sell, and store digital currency, whereas GDAX (formerly Coinbase Exchange) is an exchange for professionals to trade digital assets.
Like many others, Coinbase are interested in what Ethereum can offer the industry with its advanced scripting language to enables developments in areas such as self-executing contracts, decentralized funding models, and autonomous governance structures. Coinbase foresees a growth and potential to drive innovation as Ethereum develops.
Ether trading is now available on GDAX in select jurisdictions and will be available on Coinbase in the coming months. The services will continue to support bitcoin and the company is looking to add additional digital currencies in the future.