Coinbase has listed yet another token on its exchange, this time MakerDAO’s stablecoin DAI. As has been the case in the past, the token will not be available to the residents of New York just yet. The token is available for full trading on both Coinbase’s web and mobile platforms.
DAI is now live at https://t.co/wHvnDs40HG and in the Coinbase iOS and Android apps. Coinbase customers can log in now to buy, sell, convert, send, receive, or store DAI.
— Coinbase (@coinbase) May 23, 2019
The DAI token is a unique stablecoin in that it is not backed by a fiat currency. Instead, the coin is backed by the Maker (MKR), collateral that is used for governance on the MakerDAO platform.
Coinbase Pro, the platform for professional traders, recently listed both DAI and MKR on its platform. The exchange has been very active lately when it comes to listing tokens, heeding word from users who had complained that the its offerings were not large enough. New tokens listed include Basic Attention Token (BAT), Golem Network Token (GNT), Ziliqa (ZIL), 0x (ZRX), and several others.