US cryptocurrency exchange Coinbase has announced that users can now transfer Dogecoin into their Coinbase Pro accounts. Trading is set to begin on or after 9 a.m. Pacific on June 3, “if liquidity conditions are met,” the company said in a recent blog post.
Coinbase further said that once sufficient supply of Doge has been established on the platform, trading will launch in three phases: post-only, limit-only and full trading. “If at any point one of the new order books does not meet our assessment for a healthy and orderly market, we may keep the book in one state for a longer period of time or suspend trading as per our trading rules,” the company added.
Coinbase CEO Brian Armstrong promised during a call with investors last month that Dogecoin would be coming to its platform soon. The cryptocurrency, which started out as a joke based on an Internet meme in 2013, is up more than 7,600 percent on the year.
Notably, Dogecoin isn’t yet available to standard Coinbase users or via its consumer mobile app, but the company said it would make a separate announcement “if and when this support is added.” Typically, Coinbase adds a cryptocurrency to its retail platform a few weeks after listing on the pro version, according to Coindesk.
Dogecoin prices spiked earlier today to around $0.44 but have since cooled to around $0.42 as of this writing.