Coinbase Pro, a digital currency trading platform, is enacting a new fee structure Monday to increase depth and liquidity in crypto markets.
The update, which takes effect at 8 p.m. Monday, will increase fees for lower-volume customers and reduce fees for high-volume transactions in excess of $50,000 a month.
"Incumbents like Coinbase are taking a different approach and appear to be pivoting their business more towards larger institutional customers than retail customers," Stephen Ehrlich, the CEO at the crypto platform Voyager and former CEO of E*TRADE Financial Corp (NASDAQ:ETFC)'s E*Trade Professional Trading, said in a statement.
Coinbase Pro will apply 0.5% maker/taker fees to transactions at or below the $10,000 tier. For customers transacting between $10,000 and $50,000 fees are set at 0.35%.
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